---
schema_version: "secwatch.filing_event.v1"
accession: "0001462120-24-000008"
form_type: "8-K"
ticker: "LOB"
cik: "0001462120"
company_name: "Live Oak Bancshares, Inc."
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:12:16.389451+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001462120-24-000008
- form_type: 8-K
- ticker: LOB
- cik: 0001462120
- company_name: Live Oak Bancshares, Inc.
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462120/000146212024000008/0001462120-24-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462120/000146212024000008/lob-20240212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462120-24-000008
- JSON: https://secwatch.observer/filing/0001462120-24-000008.json
- Plain text: https://secwatch.observer/filing/0001462120-24-000008.txt

## Key facts
- Executive change
  Casey S. Crawford resigned as Director at Live Oak Bancshares, Inc..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462120/000146212024000008/0001462120-24-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.