Moroz Mark Michael 4
4 · Live Oak Bancshares, Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Live Oak (LOB) CBO Mark Moroz Exercises RSUs, 1,580 Shares
What Happened
Mark Michael Moroz, Chief Banking Officer of Live Oak Bancshares (LOB), converted/ exercised derivative awards (RSUs) into 1,580 common shares on February 17, 2026. To cover tax withholding associated with the vesting, 703 of those shares were surrendered at $40.75 per share for a withholding value of $28,647. The exercise/conversion shows an effective exercise price of $0.00 (typical for RSU conversion), leaving a net of 877 shares delivered to Moroz.
Key Details
- Transaction date: 2026-02-17; Form 4 filed: 2026-02-19 (filed within the usual 2-business-day window).
- Codes: M = exercise/conversion of derivative (RSU); F = payment of exercise price or tax liability (share withholding).
- Shares acquired: 1,580 shares via conversion of RSUs.
- Shares withheld/disposed for taxes: 703 shares at $40.75 each = $28,647.
- Net shares retained after withholding: 1,580 − 703 = 877 shares.
- Shares owned after transaction: not reported in the filing.
- Relevant footnotes: RSUs represent contingent rights to one share each and vest according to the company’s scheduled vesting terms (footnotes show various vesting schedules and continuous-service conditions).
- No indication of a 10b5-1 plan, gift, or open-market sale; this appears to be routine RSU vesting and tax withholding.
Context
This was a conversion of restricted stock units (RSUs) into common shares, not an open-market purchase or discretionary sale. The withholding of shares to satisfy tax obligations is a common, routine administrative step (similar to a cashless exercise) and does not necessarily indicate a change in the insider’s view of the company.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-17+1,580→ 12,737 total - Tax Payment
Voting Common Stock
2026-02-17$40.75/sh−703$28,647→ 12,034 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-17−1,580→ 1,580 total→ Voting Common Stock (1,580 underlying)
- 6,760
Restricted Stock Units
[F1][F3]→ Voting Common Stock (6,760 underlying) - 8,982
Restricted Stock Units
[F1][F4]→ Voting Common Stock (8,982 underlying) - 7,412
Restricted Stock Units
[F1][F5]→ Voting Common Stock (7,412 underlying) - 5,659
Restricted Stock Units
[F1][F6]→ Voting Common Stock (5,659 underlying) - 4,000
Restricted Stock Units
[F1][F7]→ Voting Common Stock (4,000 underlying) - 35,587
Restricted Stock Units
[F1][F8]→ Voting Common Stock (35,587 underlying)
Footnotes (8)
- [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 two equal annual installments beginning on February 14, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]The RSUs vest in four equal annual installments beginning on February 12, 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 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 three equal annual installments beginning on December 9, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F7]The RSUs will vest on February 22, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F8]The RSUs vest in five equal annual installments beginning on May 19, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.