Derraik Renato 4

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.