MAHAN JAMES S III 4
4 · Live Oak Bancshares, Inc. · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
Live Oak Bancshares (LOB) CEO James Mahan Sells 20,000 Shares
What Happened James S. Mahan III, CEO of Live Oak Bancshares (LOB), reported three sales totaling 20,000 shares on Feb 18–19, 2026. The transactions were: 9,238 shares at a weighted average $40.26 (proceeds $371,885), 762 shares at $41.15 (proceeds $31,359), and 10,000 shares at $40.04 (proceeds $400,354), for combined proceeds of approximately $803,598. All transactions are reported as sales (open market or private sale).
Key Details
- Dates: Feb 18, 2026 (two sell lots: 9,238 and 762 shares) and Feb 19, 2026 (10,000 shares).
- Reported weighted-average prices and ranges:
- 9,238 @ $40.26 (executed across $39.575–$40.26) — F4
- 762 @ $41.15 (executed across $40.97–$41.455) — F3
- 10,000 @ $40.04 (executed across $39.925–$40.90) — F2
- Total proceeds: ≈ $803,598.
- Plan: Transactions were effected pursuant to a Rule 10b5-1 trading plan adopted Aug 27, 2025 (F1).
- Additional note: The filer states the reported prices are weighted averages from multiple trades and will provide full trade breakdowns on request.
- Filing timeliness: Form 4 filed Feb 20, 2026; this appears to be a timely filing following the Feb 18–19 transactions.
- Shares owned after transaction: Not disclosed in the information provided in this filing.
Context
- These were outright sales under a prearranged 10b5-1 plan, which typically means the trades were executed according to a previously established schedule or formula rather than a new decision by the insider. Sales are common and, unlike purchases, are generally considered less informative about an insider’s outlook on the company.
Insider Transaction Report
Form 4
MAHAN JAMES S III
DirectorChief Executive Officer10% Owner
Transactions
- Sale
Voting Common Stock
[F1][F2]2026-02-18$40.26/sh−9,238$371,885→ 3,018,606 total(indirect: By Trust) - Sale
Voting Common Stock
[F1][F3]2026-02-18$41.15/sh−762$31,359→ 3,017,844 total(indirect: By Trust) - Sale
Voting Common Stock
[F1][F4]2026-02-19$40.04/sh−10,000$400,354→ 3,007,844 total(indirect: By Trust)
Holdings
- 3,032,547(indirect: By Trust)
Voting Common Stock
- 127,167(indirect: By Trust)
Voting Common Stock
- 127,167(indirect: By Trust)
Voting Common Stock
- 140,150(indirect: By LLC)
Voting Common Stock
Footnotes (4)
- [F1]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025.
- [F2]This transaction was executed in multiple trades at prices ranging from $39.925 to $40.90. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
- [F3]This transaction was executed in multiple trades at prices ranging from $40.97 to $41.455. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
- [F4]This transaction was executed in multiple trades at prices ranging from $39.575 to $40.26. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
Signature
/s/ Jonathan A. Greene, By Power of Attorney|2026-02-20