Moroz Mark Michael 4

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.