Spencer Courtney 4

What Happened

• Spencer Courtney, Chief Experience Officer of Live Oak Bancshares, converted restricted stock units (RSUs) into 1,580 shares on February 17, 2026. To satisfy tax withholding obligations, 702 of those shares were surrendered at a value of $40.75 per share (total ~ $28,607). The RSU conversion shows no cash exercise price (typical for RSU vesting).

Key Details

• Transaction date: February 17, 2026; Form filed February 19, 2026 (appears timely).
• Transactions reported: conversion/exercise of 1,580 RSUs (code M); 702 shares withheld for taxes (code F) at $40.75/share for ~$28,607.
• Exercise/conversion reported with $0.00 exercise price (RSUs vest into shares rather than exercised options for cash).
• Shares owned after the transaction: not specified in the provided details.
• Relevant footnotes: RSUs represent contingent rights to one share each and vest under multi-year schedules (several vesting start dates and installment schedules are noted in the filing). The filing indicates tax withholding via share surrender rather than an open-market sale.

Context

• This is a routine vesting/conversion of RSUs with shares withheld to cover taxes — not an open-market sale or purchase indicating a change in market exposure.
• Transaction codes: M = exercise/conversion of a derivative (here, RSUs converting to shares); F = shares surrendered/withheld to cover tax liability.
• For retail investors: such transactions typically reflect standard compensation mechanics (vesting and withholding) rather than a direct buy or bearish sale signal.