Derraik Renato 4
4 · Live Oak Bancshares, Inc. · Filed May 4, 2026
Research Summary
AI-generated summary of this filing
Live Oak Bancshares (LOB) Renato Derraik Sells 75,000 Shares
What Happened
Renato Derraik, Chief Information/Digital Officer of Live Oak Bancshares, sold 75,000 shares in an open-market transaction on April 30, 2026. The weighted-average sale price reported was $37.83 per share, for total proceeds of approximately $2,837,100. This was a sale (not a purchase or option exercise).
Key Details
- Transaction date: 2026-04-30; filing date (Form 4): 2026-05-04 (filed within the typical two-business-day window).
- Price: weighted average $37.83; trades executed at prices ranging from $37.51 to $38.095 (see footnote F1).
- Shares sold: 75,000; proceeds ≈ $2,837,100.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes: F1 explains the reported price is a weighted average across multiple trades and that detailed trade-by-trade info is available on request. Footnotes F2–F8 describe various restricted stock unit (RSU) awards and staggered vesting schedules (these RSUs represent contingent rights to receive shares and vest over multiple years).
- Transaction type code: S = Sale.
Context
This filing documents an open-market sale of existing shares. Sales by insiders can be routine (liquidity, diversification, tax planning) and do not by themselves indicate company performance or insider sentiment. The transaction was not an option exercise or award issuance; derivative/award footnotes in the filing refer to separate RSU grants and their vesting schedules.
Insider Transaction Report
- Sale
Voting Common Stock
[F1]2026-04-30$37.83/sh−75,000$2,837,100→ 4,243 total
- 1,580
Restricted Stock Units
[F2][F3]→ Voting Common Stock (1,580 underlying) - 12,769
Restricted Stock Units
[F2][F4]→ Voting Common Stock (12,769 underlying) - 35,846
Restricted Stock Units
[F2][F5]→ Voting Common Stock (35,846 underlying) - 13,173
Restricted Stock Units
[F2][F6]→ Voting Common Stock (13,173 underlying) - 12,543
Restricted Stock Units
[F2][F7]→ Voting Common Stock (12,543 underlying) - 25,000
Restricted Stock Units
[F2][F8]→ Voting Common Stock (25,000 underlying)
Footnotes (8)
- [F1]This transaction was executed in multiple trades at prices ranging from $37.51 to $38.095. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
- [F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F3]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.
- [F4]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.
- [F5]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.
- [F6]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.
- [F7]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.
- [F8]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.