Derraik Renato 4
4 · Live Oak Bancshares, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Live Oak (LOB) CIO Renato Derraik Exercises RSUs, Withholds 1,515 Shares
What Happened
Renato Derraik, Live Oak Bancshares' Chief Information & Digital Officer, received a grant of 10,778 restricted stock units (RSUs) on Feb 9, 2026, and on Feb 10, 2026 converted/exercised 3,135 RSUs into common shares. To satisfy tax withholding on the settlement, 1,515 shares were disposed at $41.04 per share, totaling $62,176. The RSU grant itself is reported at $0 (typical for RSU awards).
Key Details
- Transaction dates: RSU grant on 2026-02-09; conversion/exercise and tax withholding on 2026-02-10. Form 4 filed 2026-02-11 (timely).
- Actions and codes: A = RSU grant (10,778 units); M = exercise/conversion of derivative (3,135 units); F = shares withheld to pay tax liability (1,515 shares).
- Prices/values: Tax-withheld shares disposed at $41.04 each for $62,176 total. The RSU grant and conversion are reported at $0 (no cash purchase price).
- Shares owned after the transactions: not specified in the provided filing data.
- Footnotes: Filing clarifies an RSU equals a contingent right to one share and lists multi-year vesting schedules (vesting in equal annual installments over five years for the grants).
Context
RSUs are awards that convert to shares subject to vesting; the conversion here resulted in a routine tax-withholding disposition (common practice when RSUs settle). The tax-withholding sale does not necessarily indicate a view on the company’s stock — it’s primarily an administrative step to cover taxes.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-10+3,135→ 67,559 total - Tax Payment
Voting Common Stock
2026-02-10$41.04/sh−1,515$62,176→ 66,044 total - Award
Restricted Stock Units
[F1][F2]2026-02-09+10,778→ 10,778 total→ Voting Common Stock (10,778 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-10−3,135→ 12,543 total→ Voting Common Stock (3,135 underlying)
- 25,000
Restricted Stock Units
[F1][F4]→ Voting Common Stock (25,000 underlying) - 3,160
Restricted Stock Units
[F1][F5]→ Voting Common Stock (3,160 underlying) - 53,769
Restricted Stock Units
[F1][F6]→ Voting Common Stock (53,769 underlying) - 17,025
Restricted Stock Units
[F1][F7]→ Voting Common Stock (17,025 underlying)
Footnotes (7)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F2]The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]The RSUs vest in five equal annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F4]The RSUs vest in five equal annual installments beginning on August 10, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F5]The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F6]The RSUs vest in five equal annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F7]The RSUs vest in five equal installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.