Item 5.02. Departure of Directors or Certain Officers; Election of Directors;


           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.

(d)Effective September 16, 2020, the Board of Directors (the "Board") of Live Oak Bancshares, Inc. (the "Company") appointed Tonya Williams Bradford to serve as a Board member until the Company's next annual meeting of shareholders. Dr. Bradford was also appointed as a member of the Board of Live Oak Banking Company (the "Bank"), the Company's wholly owned banking subsidiary.

The Board has not yet determined the committees to which Dr. Bradford will be appointed, if any. Dr. Bradford will participate in the current director compensation arrangements generally applicable to the Company's non-employee directors as described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 3, 2020, pro-rated for service until the next annual meeting of shareholders. There are no arrangements or understandings between Dr. Bradford and any other persons pursuant to which she was selected as a director. Dr. Bradford has not engaged in any transaction with the Company or the Bank that would be reportable as a related party transaction under Item 404(a) of the Securities and Exchange Commission Regulation S-K.

A copy of the Company's press release announcing the appointment of Dr. Bradford is attached as Exhibit 99.1 to this Form 8-K.

Item 9.01. Financial Statements and Exhibits.




(d)Exhibits



Exhibit
Number    Description

   99.1     Press release dated September 17, 2020

    104   Cover Page Interactive Data File (embedded within the Inline XBRL document)




                                       1

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