Derraik Renato 4

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.