Bradford Tonya Williams 4

What Happened

• Bradford Tonya Williams, a director of Live Oak Bancshares, had 2,946 restricted stock units (RSUs) convert into 2,946 shares on May 1, 2026. The Form 4 shows an acquisition of 2,946 shares (conversion of derivative) and a simultaneous disposition of 2,946 shares at $0.00. No cash proceeds were reported from the disposition.

Key Details

• Date of transaction: May 1, 2026
• Activity: Conversion/exercise of derivative security (code M) — 2,946 shares acquired; 2,946 shares disposed at $0.00
• Footnotes: F1 — each RSU equals a contingent right to one share; F2 — the RSUs vested on May 1, 2026
• Shares owned after transaction: Not provided in the excerpt supplied
• Filing date: Form 4 filed May 5, 2026 (appears timely based on the May 1 transaction)

Context

• This filing reflects RSU vesting and conversion to common stock. The simultaneous disposal at $0.00 is consistent with shares being withheld or converted to cover tax withholding or similar settlement mechanics (a routine administrative step), not an open-market sale. Such vesting-withholding transactions are common for equity awards and do not, by themselves, indicate a buy or sell signal.