SUTHERLAND JOHN W. 4
4 · Live Oak Bancshares, Inc. · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Live Oak (LOB) CAO John Sutherland Exercises RSUs, Withholds Shares
What Happened John W. Sutherland, Chief Accounting Officer of Live Oak Bancshares (LOB), converted/vested a total of 1,587 restricted stock units (RSUs) on Feb 12–13, 2026 (876 and 711 shares). To cover tax withholding, 436 shares (at $40.22 each, $17,536) were surrendered on Feb 12 and 354 shares (at $40.54 each, $14,351) were surrendered on Feb 13 — a total withholding value of $31,887. After withholding, Sutherland received a net ~797 shares. Form 4 was filed 2026-02-17 (reporting period begins 2026-02-12).
Key Details
- Transaction dates: Feb 12, 2026 (876 RSUs vest; 436 shares withheld at $40.22) and Feb 13, 2026 (711 RSUs vest; 354 shares withheld at $40.54).
- Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = payment of exercise price or tax liability (share withholding for taxes).
- Net shares received: 1,587 vested − 790 withheld = 797 shares retained.
- Withheld shares value (reported): $17,536 (2/12) + $14,351 (2/13) = $31,887. Estimated gross value of all vested shares ≈ $64,057; net retained value ≈ $32,170 (based on reported per-share withholding prices).
- Shares owned after transaction: not specified in the filing.
- Footnotes: RSUs convert 1-for-1 into common stock and are subject to multi-year vesting schedules (various vesting footnotes included in the filing).
- Filing: Form 4 filed Feb 17, 2026 (covers transactions on Feb 12–13, 2026).
Context These entries reflect RSU vesting and routine tax-withholding (a cashless mechanism where shares are surrendered to cover tax obligations), not an open-market purchase or a discretionary sale. Such vesting-related conversions are common compensation events and do not by themselves indicate a deliberate market bet by the insider.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-12+876→ 16,452 total - Tax Payment
Voting Common Stock
2026-02-12$40.22/sh−436$17,536→ 16,016 total - Exercise/Conversion
Voting Common Stock
[F1]2026-02-13+711→ 16,727 total - Tax Payment
Voting Common Stock
2026-02-13$40.54/sh−354$14,351→ 16,373 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-12−876→ 2,629 total→ Voting Common Stock (876 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-13−711→ 1,423 total→ Voting Common Stock (711 underlying)
- 2,754
Restricted Stock Units
[F1][F4]→ Voting Common Stock (2,754 underlying) - 2,280
Restricted Stock Units
[F1][F5]→ Voting Common Stock (2,280 underlying) - 178
Restricted Stock Units
[F1][F6]→ Voting Common Stock (178 underlying) - 632
Restricted Stock Units
[F1][F7]→ Voting Common Stock (632 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 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]The RSUs vest in five pro rata installments beginning on February 13, 2024, 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 9, 2027, 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 10, 2026, 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 22, 2022, 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 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.