Derraik Renato 4

What Happened

• Renato Derraik, Chief Information & Digital Officer of Live Oak Bancshares (LOB), converted 1,580 restricted stock units (RSUs) into common shares on Feb 17, 2026. As part of that conversion, 703 of the newly issued shares were withheld to satisfy tax withholding obligations at $40.75 per share, totaling $28,647. The remaining 877 shares were delivered to Derraik (1,580 converted − 703 withheld = 877 net shares).

Key Details

• Transaction date: Feb 17, 2026. Form filed Feb 19, 2026 (timely within the Form 4 filing window).
• Actions reported: M = exercise/conversion of derivative (1,580 RSUs converted to shares); F = shares withheld to pay taxes (703 shares at $40.75, $28,647).
• Net shares received: 877 (after 703-share tax withholding).
• Footnotes: RSUs each convert to one share (F1) and are subject to multi-year vesting schedules (see footnotes F2–F7 describing various annual vesting start dates). The filing shows the withholding was for tax purposes, not an open-market sale.
• Shares owned after the transaction were not provided in the supplied details.

Context

• This was a conversion/vesting event (not an open-market sale). The F-code withholding is a routine tax-withholding disposition commonly used when awards vest; it does not necessarily signal a decision to sell shares for investment reasons.
• Transaction codes: M = conversion/exercise of a derivative award (here, RSUs); F = disposition of shares to pay exercise price or tax liability.