secwatch.observer — SEC 8-K summary
======================================

Issuer:     Live Oak Bancshares, Inc. (LOB)
CIK:        0001462120
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001462120-24-000008
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462120/000146212024000008/0001462120-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462120/000146212024000008/lob-20240212.htm
  HTML page:      https://secwatch.observer/filing/0001462120-24-000008

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer