Valine Yousef A. 4

What Happened
Valine Yousef A., a director of Live Oak Bancshares, Inc. (LOB), was granted 2,486 restricted stock units (RSUs) on May 19, 2026. The award is reported as an acquisition (derivative) at $0.00 per unit — no cash changed hands. Each RSU represents a contingent right to receive one share of Live Oak common stock once the units vest.

Key Details

• Transaction date: 2026-05-19. Form 4 filed: 2026-05-21 (timely filing).
• Transaction type/code: Grant/Award (A) — 2,486 RSUs @ $0.00 (derivative).
• Footnotes: F1 — each RSU equals a contingent right to one voting common share; F2 — RSUs vest on May 1, 2027.
• Shares owned after transaction: Not specified in the provided filing.
• No sale, exercise, 10b5-1 plan, or tax-withholding sale reported in this filing.

Context
RSUs are deferred equity compensation: they convert to actual shares only after vesting and are not immediately tradable. Director RSU grants are routine compensation and should be viewed as awards rather than open-market purchases or sales.