Michael Cairns - 15 Dec 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Credit Officer
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol: LOB
Transactions as of: 15 Dec 2025
Net transactions value: -$3,708
Form type: 4
Filing time: 17 Dec 2025, 18:04:32 UTC
Previous filing: 10 Dec 2025
Next filing: 11 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Cairns Michael	Chief Credit Officer	1741 TIBURON DRIVE, WILMINGTON	/s/ Jonathan A. Greene, By Power of Attorney	17 Dec 2025	0002030240

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOB	Voting Common Stock	Options Exercise		+235	+2.5%		9,573	15 Dec 2025	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	$3,708	-105	-1.1%	$35.31	9,468	15 Dec 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	Restricted Stock Units	Options Exercise	$0	-235	-50%	$0.000000	236	15 Dec 2025	Voting Common Stock	235		Direct	F1, F2
holding	LOB	Restricted Stock Units						1,886	15 Dec 2025	Voting Common Stock	1,886		Direct	F1, F3
holding	LOB	Restricted Stock Units						2,838	15 Dec 2025	Voting Common Stock	2,838		Direct	F1, F4
holding	LOB	Restricted Stock Units						145	15 Dec 2025	Voting Common Stock	145		Direct	F1, F5
holding	LOB	Restricted Stock Units						9,680	15 Dec 2025	Voting Common Stock	9,680		Direct	F1, F6
holding	LOB	Restricted Stock Units						6,413	15 Dec 2025	Voting Common Stock	6,413		Direct	F1, F7

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

Explanation of Responses:

Id	Content
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	235 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
F3	943 of the RSUs vested on December 9, 2024 and 2025, and 943 of the RSUs will vest on each of December 9, 2026 and 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4	945 of the RSUs vested on December 9, 2024, 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.
F5	145 of the RSUs vested on February 22, 2025 and 145 of 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.
F6	2,420 of the RSUs vested on August 19, 2025 and 2,420 of the RSUs will vest on each of August 19, 2026, 2027, 2028, and 2029, 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.