Seward Gregory W 4

What Happened
Gregory W. Seward, General Counsel of Live Oak Bancshares (LOB), exercised/conversioned a total of 14,702 restricted stock units (RSUs) into common shares on Feb 12–13, 2026 (2,754 on Feb 12 and 11,948 on Feb 13). To cover tax obligations, 6,582 of those shares were withheld (1,272 at $40.22 on Feb 12 and 5,310 at $40.54 on Feb 13) for a total withholding value of $266,427. After withholding, Seward received a net 8,120 shares. The filer’s Form 4 reports the exercise/conversion (code M) and tax withholding (code F); the derivative lines showing $0 reflect the conversion of RSUs into shares.

Key Details

• Transaction dates: Feb 12, 2026 (2,754 RSUs converted; 1,272 shares withheld at $40.22 = $51,160) and Feb 13, 2026 (11,948 RSUs converted; 5,310 shares withheld at $40.54 = $215,267).
• Total RSUs converted: 14,702; total withheld for taxes: 6,582 shares; total withholding value: $266,427; net shares received: 8,120.
• Shares owned after the transactions: not provided in the supplied filing data.
• Footnotes: F1 notes each RSU equals one contingent share; F2–F7 describe various RSU vesting schedules referenced in the filing (vesting dates and installment schedules).
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax withholding obligations (not an open-market sale).

Context

• This is a routine RSU vesting/settlement with shares withheld to cover tax liabilities (cashless-like settlement), not an open-market sale that would signal an investment decision.
• For retail investors, such withholding transactions are common following equity compensation vesting and do not necessarily indicate insider sentiment about the company’s stock price.