Seward Gregory W 4

4 · Live Oak Bancshares, Inc. · Filed Feb 11, 2026

AI-generated summary of this filing

Updated Feb 11, 2026

Live Oak (LOB) GC Gregory Seward Converts RSUs, Sells Shares

What Happened

Gregory W. Seward, General Counsel of Live Oak Bancshares (LOB), received a grant of 8,383 restricted stock units (RSUs) on Feb 9, 2026. On Feb 10, 2026, 1,852 derivative units were converted/exercised into shares. To satisfy tax withholding, 922 shares were surrendered at a withholding value of $41.04 per share, totaling $37,839. The filings show the conversions and the tax-withholding disposition as derivative transactions.

Key Details

Transaction dates: Grant 2026-02-09 (8,383 RSUs); conversion/exercise 2026-02-10 (1,852 units); tax withholding (F) 2026-02-10 (922 shares withheld).
Price / value: Tax withholding price reported at $41.04/share; withholding value = $37,839. Grant listed at $0.00 as RSUs (derivative award).
Shares owned after transaction: Not stated in the provided filing excerpt.
Notable footnotes: RSUs represent contingent rights to receive one share each and generally vest in five equal annual installments (footnotes in the filing indicate various vesting start dates, e.g., Feb 9, 2027 and Feb 10, 2026 for different awards).
Timeliness: Filed Feb 11, 2026 for transactions on Feb 9–10, 2026 — appears timely under Form 4 reporting rules.
Transaction codes: A = award/grant (RSUs); M = exercise/conversion of derivative; F = shares withheld to pay tax liability.

Context

This appears to be a routine RSU grant and the conversion/settlement of derivative awards, with shares withheld to cover taxes (a common cashless method). Such tax-withholding dispositions are not the same as an open-market sale of shares beyond the withheld amount and do not necessarily indicate a change in the insider’s investment view.

Form 4

Period: 2026-02-09

General Counsel

Transactions

Exercise/Conversion
Voting Common Stock
[F1]
2026-02-10+1,852→ 107,728 total
Tax Payment
Voting Common Stock
2026-02-10$41.04/sh−922$37,839→ 106,806 total
Award
Restricted Stock Units
[F1][F2]
2026-02-09+8,383→ 8,383 total
→ Voting Common Stock (8,383 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-10−1,852→ 7,412 total
→ Voting Common Stock (1,852 underlying)

Holdings

Restricted Stock Units
[F1][F4]
→ Voting Common Stock (1,000 underlying)
1,000
Restricted Stock Units
[F1][F5]
→ Voting Common Stock (4,740 underlying)
4,740
Restricted Stock Units
[F1][F6]
→ Voting Common Stock (35,846 underlying)
35,846
Restricted Stock Units
[F1][F7]
→ Voting Common Stock (11,016 underlying)
11,016

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 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.

Signature

/s/ Jonathan A. Greene, by Power of Attorney|2026-02-11

1 file