Phifer Walter J 4

What Happened
Walter J. Phifer, Chief Financial Officer of Live Oak Bancshares (LOB), was granted restricted stock units (RSUs) and converted a portion into common shares. The filing shows a 2/9/2026 grant of 9,580 RSUs and conversion/exercise activity on 2/10/2026 that resulted in 1,852 shares from derivatives. Of those, 957 shares were surrendered to cover tax withholding, generating $39,275 in tax payment per the filing.

Key Details

• Transactions reported:
  • 2026-02-09: Grant of 9,580 RSUs (derivative award; $0 per share reported).
  • 2026-02-10: Conversion/exercise of derivative resulting in 1,852 shares (M code).
  • 2026-02-10: 957 shares withheld/disposed to cover tax liability at $41.04 per share = $39,275 (F code).
  • The filing also lists a 1,852-share disposition entry (derivative) at $0.00 — likely related to the conversion/net settlement mechanics reported.
• RSU mechanics: Footnotes state each RSU is a contingent right to one share and vest according to multi-year schedules (vesting footnotes F1–F8; most RSUs vest in five equal annual installments).
• Shares owned after transaction: The filing does not state total post-transaction holdings for Phifer.
• Filing/timeliness: Report filed 2026-02-11 for transactions on 2/9–2/10 — filed within the usual Form 4 reporting window (appears timely).

Context

• RSUs are derivative awards that convert to shares upon vesting or on specified dates; the $0 prices and derivative codes indicate conversion/settlement rather than an open-market purchase or sale.
• The 957-share disposition is a tax-withholding event (common on RSU vesting/conversion) and is not an open-market sale that necessarily reflects a change in sentiment.
• No 10b5-1 plan or late-filing flag is indicated in the filing; amounts surrendered were used to satisfy tax obligations.