Derraik Renato 4
4 · Live Oak Bancshares, Inc. · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Live Oak (LOB) Renato Derraik Converts RSUs; 9,857 Shares Withheld
What Happened Renato Derraik, Chief Information & Digital Officer of Live Oak Bancshares (LOB), converted a total of 22,179 restricted stock units (RSUs) into common shares on Feb 12–13, 2026. To cover tax withholding, 9,857 shares were surrendered (disposed) — 1,892 shares at $40.22 ($76,096) on Feb 12 and 7,965 shares at $40.54 ($322,901) on Feb 13 — leaving a net 12,322 shares delivered to him. These were RSU conversions (reported as derivative conversions/exercises), not open-market purchases or sales.
Key Details
- Transaction dates: Feb 12, 2026 (4,256 RSUs converted; 1,892 shares withheld @ $40.22 for taxes = $76,096) and Feb 13, 2026 (17,923 RSUs converted; 7,965 shares withheld @ $40.54 for taxes = $322,901).
- Total converted: 22,179 RSUs → 22,179 shares; total withheld for taxes: 9,857 shares (≈ $398,997); net shares received: 12,322.
- Shares owned after transaction: Not specified in the provided Form 4 excerpt.
- Footnotes: F1 clarifies an RSU = contingent right to one common share; F2–F7 describe various RSU vesting schedules (annual installments across 2022–2027) and continuous-service conditions that govern vesting.
- Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = shares disposed to satisfy tax withholding. This is effectively a net-share settlement (cashless withholding), not an open-market sale.
- Filing timeliness: Form filed 2026-02-17 covering Feb 12–13 transactions. The Feb 12 portion appears to have been filed after the standard two-business-day Form 4 deadline and thus was late; the Feb 13 transaction was filed on the second business day.
Context These entries reflect routine RSU vesting/conversion and tax-withholding activity rather than a discretionary open-market sale or purchase. For retail investors, tax withholding via share surrender is common and does not necessarily signal a change in insider sentiment—it's a method to satisfy tax obligations when restricted awards vest.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-12+4,256→ 70,300 total - Tax Payment
Voting Common Stock
2026-02-12$40.22/sh−1,892$76,096→ 68,408 total - Exercise/Conversion
Voting Common Stock
[F1]2026-02-13+17,923→ 86,331 total - Tax Payment
Voting Common Stock
2026-02-13$40.54/sh−7,965$322,901→ 78,366 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-12−4,256→ 12,769 total→ Voting Common Stock (4,256 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-13−17,923→ 35,846 total→ Voting Common Stock (17,923 underlying)
- 13,173
Restricted Stock Units
[F1][F4]→ Voting Common Stock (13,173 underlying) - 12,543
Restricted Stock Units
[F1][F5]→ Voting Common Stock (12,543 underlying) - 3,160
Restricted Stock Units
[F1][F6]→ Voting Common Stock (3,160 underlying) - 25,000
Restricted Stock Units
[F1][F7]→ Voting Common Stock (25,000 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 12, 2025, 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 13, 2024, 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 February 9, 2027, 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 10, 2026, 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 14, 2023, 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 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.