Losch William C III 4

What Happened
William C. Losch III, President of Live Oak Bancshares (LOB), had 1,264 restricted stock units (RSUs) converted into common shares on February 17, 2026 (reported on Form 4). To cover tax withholding, 562 shares were surrendered at $40.75 per share, representing $22,902. The filing also records a derivative "disposed" entry for 1,264 RSUs at $0, which is the usual bookkeeping entry when RSUs are converted into underlying shares.

Key Details

• Transaction date: February 17, 2026; Form 4 filed February 19, 2026 (appears timely).
• Primary actions reported: M = exercise/conversion of derivative (1,264 RSUs converted into shares); F = tax withholding (562 shares withheld at $40.75, $22,902).
• Net shares retained from this vesting: 1,264 − 562 = 702 shares (based on the reported entries).
• Shares owned after transaction: Not disclosed in the provided filing summary.
• Footnotes: F1 defines RSUs as a contingent right to one share; other footnotes (F2–F8) describe various five‑year vesting schedules tied to different grant dates.
• Transaction codes explained: M = exercise/conversion of a derivative security (here, RSUs); F = shares withheld to satisfy tax withholding.

Context

• This was a vesting/conversion of RSUs, not an open‑market purchase or a sale to raise cash. The withholding of 562 shares to cover taxes is a common administrative step and reduces the net shares issued to the insider.
• For retail investors: RSU conversions and tax‑withholding surrenders are routine and don’t necessarily signal a change in insider sentiment; purchases are generally more informative about confidence.