Live Oak director Hoffsis intends to retire at 2025 shareholder meeting

Live Oak Bancshares, Inc.

Glen F. Hoffsis informed the Board on April 1, 2024 of his plan to retire at the 2025 annual meeting.
Retirement is conditional on his reelection at the 2024 annual meeting; he would serve an additional year.
Dr. Hoffsis's retirement is not due to any disagreement with the Company on operations, policies, or practices.

item 5.02

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Departed

Glen F. Hoffsis

Director

LOB · Live Oak Bancshares, Inc.

Filed: April 4, 2024, 7:59 PM ET

On April 1, 2024, Glen F. Hoffsis 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 (the “Bank”), that in the event he is reelected as a director at the Company’s 2024 annual meeting of shareholders, he intends to serve for an additional year and retire from the Boards of Directors of the Company and the Bank effective at the Company’s 2025 annual meeting of shareholders.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Glen F. Hoffsis departed as Director at Live Oak Bancshares, Inc..

Action: retire
Role: Director

Exact text from the filing

On April 1, 2024, Glen F. Hoffsis 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 (the “Bank”), that in the event he is reelected as a director at the Company’s 2024 annual meeting of shareholders, he intends to serve for an additional year and retire from the Boards of Directors of the Company and the Bank effective at the Company’s 2025 annual meeting of shareholders.

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Source: SEC EDGAR

accession 0001462120-24-000025

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