Seward Gregory W 4

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.