Spencer Courtney 4
4 · Live Oak Bancshares, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Live Oak (LOB) Chief Experience Officer Spencer Courtney Receives RSUs
What Happened
Spencer Courtney, Chief Experience Officer of Live Oak Bancshares (LOB), received a grant of 6,586 restricted stock units (RSUs) on Feb 9, 2026. On Feb 10, 2026, 1,425 RSUs were converted/exercised into shares; 709 of those shares were withheld to cover tax withholding (reported value of withheld shares: $29,097). The remaining shares from that conversion imply a net delivery of about 716 shares to Courtney. The initial grant is an award (not a market purchase) and the withholding for taxes is routine.
Key Details
- Transaction dates: RSU grant 2026-02-09; conversion/exercise and tax withholding 2026-02-10; Form 4 filed 2026-02-11.
- Reported prices/values: 709 shares withheld at $41.04 each = $29,097 (tax withholding); RSU grant and conversion shown at $0.00 (derivative award/conversion).
- Implied net shares received from the conversion: 1,425 converted − 709 withheld = ~716 shares delivered.
- Shares owned after transaction: not specified in the filing.
- Footnotes: RSUs represent a contingent right to one share and vest under multi‑year schedules (generally five equal annual installments per the filing’s footnotes).
- Timeliness: Filing date (2/11/2026) follows the reported transactions (2/9–2/10/2026); the report appears timely.
Context
These transactions reflect an equity award (RSUs) and routine settlement mechanics (conversion and share withholding to satisfy tax obligations), not an open‑market purchase or sale expressing market sentiment. For retail investors, grant + conversion with share withholding is common compensation administration and should be viewed as compensation-related rather than a directional trade by the insider.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-10+1,425→ 26,585 total - Tax Payment
Voting Common Stock
2026-02-10$41.04/sh−709$29,097→ 25,876 total - Award
Restricted Stock Units
[F1][F2]2026-02-09+6,586→ 6,586 total→ Voting Common Stock (6,586 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-10−1,425→ 5,701 total→ Voting Common Stock (1,425 underlying)
- 153.796(indirect: By Spouse)
Voting Common Stock
- 3,160
Restricted Stock Units
[F1][F4]→ Voting Common Stock (3,160 underlying) - 2,000
Restricted Stock Units
[F1][F5]→ Voting Common Stock (2,000 underlying) - 8,535
Restricted Stock Units
[F1][F6]→ Voting Common Stock (8,535 underlying) - 8,512
Restricted Stock Units
[F1][F7]→ Voting Common Stock (8,512 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 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]The RSUs vest in five 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.
- [F4]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.
- [F5]2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 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 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.
- [F7]The RSUs vest in five 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.