Spencer Courtney 4

4 · Live Oak Bancshares, Inc. · Filed Feb 17, 2026

AI-generated summary of this filing

Updated Feb 17, 2026

Live Oak Bancshares (LOB) CXO Spencer Courtney Receives RSU Shares

What Happened

Spencer Courtney, Chief Experience Officer of Live Oak Bancshares, converted (exercised) RSUs into 4,973 common shares in two transactions on Feb 12 and Feb 13, 2026 (2,128 and 2,845 shares).
To satisfy tax withholding, 1,038 shares (withheld at $40.22 each, $41,748) and 1,264 shares (withheld at $40.54 each, $51,243) were surrendered — a total of 2,302 shares withheld for taxes (~$92,991).
The RSU conversions show $0 exercise price (typical for RSU vesting); this was not an open-market sale but a vesting/conversion with share withholding to cover tax obligations.

Key Details

Transaction dates: Feb 12, 2026 (2,128 shares converted; 1,038 withheld) and Feb 13, 2026 (2,845 shares converted; 1,264 withheld). Withholding prices: $40.22 and $40.54.
Total shares converted: 4,973; total shares withheld for taxes: 2,302; total withholding value reported: $92,991.
Footnotes: RSUs represent a contingent right to one share and vest under multi-year schedules (various pro rata/annual vesting provisions are noted in the filing).
Shares owned after the transactions: not specified in the provided filing details.
Filing timing: Report filed Feb 17, 2026 for transactions on Feb 12–13 — appears later than the standard 2-business-day Form 4 deadline.

Context

These entries reflect RSU vesting and net settlement for tax withholding (routine corporate practice), not an open-market purchase or sale by the insider. Code M indicates exercise/conversion of a derivative (RSU), and code F indicates shares withheld to cover taxes. Such withholding is common and does not by itself indicate a change in the insider’s market view.

Form 4

Period: 2026-02-12

Chief Experience Officer

Transactions

Exercise/Conversion
Voting Common Stock
[F1]
2026-02-12+2,128→ 28,004 total
Tax Payment
Voting Common Stock
2026-02-12$40.22/sh−1,038$41,748→ 26,966 total
Exercise/Conversion
Voting Common Stock
[F1]
2026-02-13+2,845→ 29,811 total
Tax Payment
Voting Common Stock
2026-02-13$40.54/sh−1,264$51,243→ 28,547 total
Exercise/Conversion
Restricted Stock Units
[F1][F2]
2026-02-12−2,128→ 6,384 total
→ Voting Common Stock (2,128 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-13−2,845→ 5,690 total
→ Voting Common Stock (2,845 underlying)

Holdings

Voting Common Stock
(indirect: By Spouse)
153.796
Restricted Stock Units
[F1][F4]
→ Voting Common Stock (6,586 underlying)
6,586
Restricted Stock Units
[F1][F5]
→ Voting Common Stock (5,701 underlying)
5,701
Restricted Stock Units
[F1][F6]
→ Voting Common Stock (3,160 underlying)
3,160
Restricted Stock Units
[F1][F7]
→ Voting Common Stock (2,000 underlying)
2,000

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 pro rata 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]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.

Signature

/s/ Jonathan A. Greene, By Power of Attorney|2026-02-17

1 file