MAHAN JAMES S III 4

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.