Director Casey Crawford resigns; RSU awards granted to five NEOs including 250K RSU for President Losch

Live Oak Bancshares, Inc.

Casey S. Crawford resigned as director of Live Oak Bancshares and its bank subsidiary effective Feb. 15, 2024; no disagreement cited.
Compensation Committee approved RSU awards to NEOs: Derraik (21,281), Losch (55,082), Phifer (10,015), Seward (13,770), Smits (13,144).
President William C. Losch III received an additional 250,000 RSUs for his promotion; vests in 5 annual installments starting Aug. 25, 2024.
All RSUs vest equally over 5 years; unvested units forfeited if employment terminates before final vest date.
CEO James S. Mahan III received no equity award; Committee noted his substantial existing stock ownership.

item 5.02 item 9.01

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Departed

Casey S. Crawford

Director

LOB · Live Oak Bancshares, Inc.

Effective: 2024-02-15
Filed: February 16, 2024, 6:59 PM ET

On February 15, 2024, Casey S. Crawford informed the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) and Live Oak Banking Company, the wholly owned bank subsidiary of the Company, that he will be resigning as a director of each, effective immediately.

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Executive change SEC 8-K Item 5.02 confidence 1.0

Casey S. Crawford resigned as Director at Live Oak Bancshares, Inc..

Action: resigned
Role: Director

Exact text from the filing

On February 15, 2024, Casey S. Crawford informed the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) and Live Oak Banking Company, the wholly owned bank subsidiary of the Company, that he will be resigning as a director of each, effective immediately.

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Live Oak Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001462120-24-000008

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