SUTHERLAND JOHN W. 4

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.