JOHN W. SUTHERLAND - 27 Jun 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Accounting Officer
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol: LOB
Transactions as of: 27 Jun 2025
Net transactions value: +$51,000
Form type: 4
Filing time: 30 Jun 2025, 16:10:30 UTC
Previous filing: 25 Feb 2025
Next filing: 11 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
SUTHERLAND JOHN W.	Chief Accounting Officer	1741 TIBURON DRIVE, WILMINGTON	/s/ Jonathan A. Greene, By Power of Attorney	30 Jun 2025	0001635154

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOB	Voting Common Stock	Options Exercise	$51,000	+3,000	+24%	$17.00	15,290	27 Jun 2025	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LOB	Employee Stock Option (right to buy)	Options Exercise	$0	-3,000	-100%	$0.000000	0	27 Jun 2025	Voting Common Stock	3,000	$17.00	Direct	F1
holding	LOB	Restricted Stock Units						178	27 Jun 2025	Voting Common Stock	178		Direct	F2, F3
holding	LOB	Restricted Stock Units						632	27 Jun 2025	Voting Common Stock	632		Direct	F2, F4
holding	LOB	Restricted Stock Units						2,134	27 Jun 2025	Voting Common Stock	2,134		Direct	F2, F5
holding	LOB	Restricted Stock Units						3,505	27 Jun 2025	Voting Common Stock	3,505		Direct	F2, F6
holding	LOB	Restricted Stock Units						2,850	27 Jun 2025	Voting Common Stock	2,850		Direct	F2, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares subject to this option vested and became exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on July 22, 2021; and 25% of the shares subject to the option vested on July 22, 2022.
F2	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F3	The RSUs vest in five equal annual installments beginning on February 22, 2022, 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 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5	The RSUs vest in equal pro rata installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6	The RSUs vest in five equal installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F7	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.