Bradford Tonya Williams 4

What Happened
Tonya Williams, a director of Live Oak Bancshares, Inc. (LOB), received a grant of 2,486 restricted stock units (RSUs) on May 19, 2026. The RSUs were reported at a $0 acquisition price (i.e., no cash paid at grant); they are derivative awards representing a contingent right to receive one share per unit upon vesting.

Key Details

• Transaction date: 2026-05-19 (filed on 2026-05-21).
• Award: 2,486 restricted stock units recorded at $0.00 per unit (derivative award).
• Vesting: RSUs vest on May 1, 2027 (per filing footnote).
• Footnotes: F1 — each RSU equals a contingent right to one share of Live Oak common stock; F2 — vesting date as above.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Timeliness: filing date (May 21) follows the transaction date (May 19); this appears to be within the typical two-business-day reporting window.

Context
Restricted stock unit grants are compensation awards and do not represent immediate purchases or sales of shares. They are derivative in nature and only convert into actual shares when they vest (here, on May 1, 2027), so they do not by themselves signal an immediate buy or sell by the insider.