Moroz Mark Michael 4

What Happened

• Mark Michael Moroz, Chief Banking Officer of Live Oak Bancshares (LOB), had 2,253 restricted stock units (RSUs) convert into common shares on February 12, 2026. To satisfy tax withholding, 1,002 of those shares were withheld/paid at $40.22 per share, totaling about $40,300. The remaining 1,251 shares were issued to Moroz.
• This was not an open-market sale or purchase by the insider; it was the routine conversion/vesting of RSUs with a tax-withholding disposition.

Key Details

• Transaction date: February 12, 2026; Form 4 filed February 17, 2026 (timely — filing deadline fell on Feb 17).
• Conversion (code M): 2,253 RSUs converted into shares.
• Tax withholding (code F): 1,002 shares withheld at $40.22/share for ~$40,300.
• Net shares issued to insider after withholding: 1,251 shares.
• Footnotes: RSUs represent contingent rights to one share each; the filing lists multiple RSU grants with varying vesting schedules (see footnotes F1–F8).
• No indication of a 10b5-1 plan or gift; this is a standard vesting/conversion with tax withholding.

Context

• RSU conversions commonly result in a portion of shares being withheld to cover payroll taxes — this is routine and doesn't necessarily signal a buy or sell decision by the insider.
• Transaction codes: M = exercise/conversion of derivative (here, RSUs converting to stock); F = payment of exercise price or tax liability (here, shares withheld to cover taxes).