MAHAN JAMES S III 4

What Happened

• James S. Mahan III, CEO of Live Oak Bancshares, reported sales of 20,000 shares in open-market transactions on March 4–5, 2026. The transactions generated aggregate proceeds of approximately $721,195.
• Breakdown: 10,000 shares at a weighted average $36.69 (≈ $366,872); 8,861 shares at $35.37 (≈ $313,445); 1,139 shares at $35.89 (≈ $40,878). All are dispositions (sales).

Key Details

• Transaction dates & prices:
  • 2026-03-04: 10,000 shares @ $36.69 (weighted avg); price range reported in footnote F2: $36.355–$36.89.
  • 2026-03-05: 8,861 shares @ $35.37 (weighted avg); price range F3: $34.73–$35.72.
  • 2026-03-05: 1,139 shares @ $35.89 (weighted avg); price range F4: $35.73–$36.30.
• Total sold: 20,000 shares for ≈ $721,195.
• Plan/authorization: Sales were made pursuant to a Rule 10b5-1 trading plan adopted Aug 27, 2025 (footnote F1).
• Reporting/follow-up: The filer notes weighted-average prices and offers to provide full per-trade details upon request (F2–F4).
• Filing date: Form 4 filed 2026-03-06 covering transactions on March 4–5, 2026; no indication in the filing that it was late.
• Shares owned after transaction: Not specified in the information provided.

Context

• These are sales by an executive insider under a pre-established 10b5-1 plan, which is a common mechanism for scheduled disposition and does not, by itself, indicate access to material non-public information. Sales are often routine; purchases are typically more informative about an insider’s view. Investors should monitor future filings and company disclosures for additional context.