SEC Form 4 · accession 0002030240-26-000007
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Cairns
Officer — Chief Credit Officer
Period of report
Aug 19, 2026
Accepted (ET)
Aug 21, 2026 · 4:37 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001462120
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Voting Common StockF1 | Aug 19, 2026 | M | 2,420 | — | A | 12,604 | D | |
| Voting Common Stock | Aug 19, 2026 | F | 1,076 | $40.89 | D | 11,528 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Aug 19, 2026 | M | 2,420 | D | — | — | Voting Common Stock | 2,420 | 7,260 | D |
| Restricted Stock UnitsF1,F3 | — | holding | — | — | — | — | — | Voting Common Stock | 236 | 236 | D |
| Restricted Stock UnitsF1,F4 | — | holding | — | — | — | — | — | Voting Common Stock | 1,886 | 1,886 | D |
| Restricted Stock UnitsF1,F5 | — | holding | — | — | — | — | — | Voting Common Stock | 2,838 | 2,838 | D |
| Restricted Stock UnitsF1,F6 | — | holding | — | — | — | — | — | Voting Common Stock | 5,131 | 5,131 | D |
| Restricted Stock UnitsF1,F7 | — | holding | — | — | — | — | — | Voting Common Stock | 10,778 | 10,778 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- F2The RSUs vest in five equal annual installments beginning on August 19, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F3235 of the RSUs vested on each of December 15, 2024 and 2025, and 236 of the RSUs will vest on December 15, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F4The RSUs vest in five equal annual installments beginning on December 9, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F5945 of the RSUs vested on December 9, 2024 and 946 of the RSUs vested on December 8, 2025, and 946 of the RSUs will vest on each of December 8, 2026, 2027, and 2028, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F6The 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.
- F7The 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.