SUTHERLAND JOHN W. 4
4 · Live Oak Bancshares, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Live Oak (LOB) John W. Sutherland Exercises RSUs; Shares Withheld
What Happened
John W. Sutherland, Chief Accounting Officer of Live Oak Bancshares (LOB), received a grant of 2,754 restricted stock units (RSUs) on Feb 9, 2026. On Feb 10, 2026 he converted/exercised 570 RSUs into common shares; 284 of those shares were surrendered/withheld to cover tax withholding at $41.04 per share (tax value $11,655), leaving a net 286 shares issued to him.
Key Details
- Transactions reported: RSU grant (2/9/2026) and RSU conversion/settlement with tax withholding (2/10/2026). Filing date: 2026-02-11 (appears timely).
- Grant: 2,754 RSUs awarded on 2026-02-09 (code A).
- Conversion/exercise: 570 RSUs converted to shares on 2026-02-10 (code M).
- Tax withholding: 284 shares withheld/disposed to satisfy tax liability at $41.04 per share = $11,655 (code F).
- Net newly issued shares from the conversion: 570 − 284 = 286 shares.
- Footnotes: Each RSU represents the right to one common share (footnote F1). The Feb 9, 2026 grant vests in five equal annual installments beginning Feb 9, 2027 (footnote F2).
- Shares owned after the transaction are not specified in the provided filing.
Context
- These entries reflect an RSU award and a standard settlement/withholding for taxes — a common administrative event for equity compensation, not an open-market buy or sell.
- The withholding of shares to satisfy tax obligations (code F) is routine and should not be interpreted as a directional trade signal.
Insider Transaction Report
Form 4
SUTHERLAND JOHN W.
Chief Accounting Officer
Transactions
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-10+570→ 15,860 total - Tax Payment
Voting Common Stock
2026-02-10$41.04/sh−284$11,655→ 15,576 total - Award
Restricted Stock Units
[F1][F2]2026-02-09+2,754→ 2,754 total→ Voting Common Stock (2,754 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-10−570→ 2,280 total→ Voting Common Stock (570 underlying)
Holdings
- 178
Restricted Stock Units
[F1][F4]→ Voting Common Stock (178 underlying) - 632
Restricted Stock Units
[F1][F5]→ Voting Common Stock (632 underlying) - 2,134
Restricted Stock Units
[F1][F6]→ Voting Common Stock (2,134 underlying) - 3,505
Restricted Stock Units
[F1][F7]→ Voting Common Stock (3,505 underlying)
Footnotes (7)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F2]The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]The RSUs vest in five equal annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F4]The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F5]The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F6]The RSUs vest in five equal annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F7]The RSUs vest in five equal installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
Signature
/s/ Jonathan A. Greene, By Power of Attorney|2026-02-11