Director Glossman exits board; executives awarded $190K cash and 87K RSUs

Live Oak Bancshares, Inc.

Director Diane B. Glossman will not stand for re-election at 2025 annual meeting; departure not due to any disagreement.
Cash bonuses ($190.6K total) and RSUs (87,197 total) awarded to five NEOs: Losch, Derraik, Mann, Phifer, Seward.
CEO James S. Mahan III received no equity award; committee cited his substantial existing stock ownership.
RSUs vest in five equal annual installments beginning Feb 10, 2026; forfeited if employment ends before Feb 10, 2030.

item 5.02 item 9.01

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Departed

Diane B. Glossman

Director

LOB · Live Oak Bancshares, Inc.

Filed: February 14, 2025, 6:59 PM ET

On February 11, 2025, Diane B. Glossman notified the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) that she has decided not to stand for re-election to the Board of Directors at the Company’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”).

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Executive change SEC 8-K Item 5.02 confidence 0.95

Diane B. Glossman departed as Director at Live Oak Bancshares, Inc..

Action: not stand for re-election
Role: Director

Exact text from the filing

On February 11, 2025, Diane B. Glossman notified the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) that she has decided not to stand for re-election to the Board of Directors at the Company’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”).

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Live Oak Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001462120-25-000008

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