MAHAN JAMES S III 4

What Happened James S. Mahan III, CEO of Live Oak Bancshares (LOB), reported an open-market sale of 10,000 shares on May 14, 2026. The sale generated approximately $362,260 based on a weighted-average price of $36.23 per share (prices ranged $36.03–$36.48 across multiple trades). This was a sale (S) — routine insider sales do not necessarily signal a change in view of the company.

Key Details

• Transaction date: May 14, 2026; Form 4 filed May 18, 2026.
• Shares sold: 10,000; weighted-average price: $36.23; total proceeds ≈ $362,260.
• Price range: $36.03 to $36.48 (executed in multiple trades; weighted average reported).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnotes: Sale was executed pursuant to a Rule 10b5-1 trading plan adopted August 27, 2025; filer can provide per-trade share counts/prices on request.
• Transaction code: S = Sale.

Context Sales under pre-established 10b5-1 plans are common for insiders and are set up in advance to avoid trading on nonpublic information. Retail investors should note that purchases are generally more informative as a bullish signal; sales can be routine (portfolio diversification, tax planning, etc.) and don’t by themselves indicate management’s view of the company.