SUTHERLAND JOHN W. 4

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.