SUTHERLAND JOHN W. 4

What Happened

• John W. Sutherland, Chief Accounting Officer of Live Oak Bancshares (LOB), exercised/converted 316 restricted stock units (RSUs) into common shares on 2026-02-17.
• To satisfy tax withholding, 158 of those shares were withheld/sold at $40.75 each for a total tax payment of $6,439. Net shares retained from the conversion were 158.

Key Details

• Date of transaction: February 17, 2026.
• Exercise/conversion: 316 RSUs converted to 316 shares (derivative transaction code M).
• Tax withholding/sale: 158 shares disposed at $40.75 per share, total $6,439 (code F).
• Net shares received: 316 converted − 158 withheld = 158 shares retained.
• Footnotes: RSUs represent contingent rights to one share and vest in scheduled installments under the company plan (see F1–F7 in the filing).
• Filing timeliness: Report filed on Feb 19, 2026 (timely within required Form 4 window).
• Shares owned after transaction: Not specified in the provided summary.

Context

• This appears to be a routine conversion of RSUs with a sell-to-cover/tax-withholding for taxes—not a market-sale decision expressing a view on the stock.
• For retail investors, purchases or net acquisitions can be more informative; here the insider retained 158 shares after withholding.