Live Oak Bancshares (LOB) has released an update.
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Casey S. Crawford has stepped down from the Board of Directors of Live Oak Bancshares and its subsidiary, Live Oak Banking Company, effective immediately, with no disagreements cited. Meanwhile, the company’s Compensation Committee has granted RSU awards to several executives, including Renato Derraik, William C. Losch III, Walter J. Phifer, Gregory W. Seward, and Steven J. Smits, with vesting over five years starting 2025. Notably, William C. Losch III also received a substantial RSU award linked to his promotion to President, with a similar vesting schedule. No new equity awards have been given to Chairman and CEO James S. Mahan III, reflecting his significant existing ownership in the company.
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