Seward Gregory W 4

What Happened

• Gregory W. Seward, General Counsel of Live Oak Bancshares (LOB), had 2,370 restricted stock units (RSUs convert into common shares) vest/convert on February 17, 2026 (reported on Form 4). Of those shares, 1,054 were surrendered/withheld to cover tax withholding at $40.75 per share, raising $42,951. Net newly acquired shares = 2,370 - 1,054 = 1,316 shares.
• Transaction codes: M = conversion/exercise of derivative (RSUs → common shares); F = shares delivered to satisfy tax liability. One M entry shows a $0 disposition reflecting the conversion/cancellation of the underlying derivative awards.

Key Details

• Transaction date: February 17, 2026; Tax withholding price: $40.75/share; Cash from withheld shares = $42,951.
• Shares acquired on conversion: 2,370; Shares withheld/disposed for taxes: 1,054; Net new shares retained: 1,316.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 notes each RSU equals one common share; other footnotes describe five-year vesting schedules for RSUs (vesting in equal annual installments starting on various dates).
• Filing timeliness: Form 4 was filed on Feb 19, 2026 (appears timely under the usual two-business-day reporting rule).

Context

• This was a standard RSU vest/conversion with a cashless-style tax withholding (the company withheld shares to cover taxes), not an open-market sale or purchase. Such withholding is routine and reflects tax obligations rather than an active sell decision.
• For retail investors: this is not an outright sale for cash (except the withheld portion). Purchases are typically more bullish signals; this filing primarily documents compensation vesting and tax withholding.