Live Oak Bancshares CEO James Mahan Sells 20,000 Shares

What Happened
James S. Mahan III, CEO of Live Oak Bancshares (LOB), reported open-market sales totaling 20,000 shares between Aug 19–20, 2026 for aggregate proceeds of approximately $817,599. The sales: 8,002 shares on 2026-08-19 at a weighted average $41.05 ($328,464); 1,998 shares on 2026-08-19 at a weighted average $41.97 ($83,852); and 10,000 shares on 2026-08-20 at a weighted average $40.53 ($405,283). These were sales (not purchases), which are often routine insider liquidity events.

Key Details

• Transaction dates and reported weighted-average prices:
  • 2026-08-19: 8,002 shares @ $41.05 = $328,464 (executed in multiple trades; prices ranged $40.785–$41.75)
  • 2026-08-19: 1,998 shares @ $41.97 = $83,852 (executed in multiple trades; prices ranged $41.77–$42.6624)
  • 2026-08-20: 10,000 shares @ $40.53 = $405,283 (executed in multiple trades; prices ranged $40.20–$40.8137)
• Total proceeds: ~$817,599.
• These sales were made pursuant to a Rule 10b5-1 trading plan adopted by Mr. Mahan on August 27, 2025.
• Shares owned after the transactions are not specified in the information provided in this summary.
• Filing: Reported period 2026-08-19 and filed 2026-08-21 (within the typical two-business-day reporting window).

Context
This filing documents open-market sales under a pre-established 10b5-1 plan (a common way executives can sell shares on a set schedule). Sales are routine insider liquidity events and do not by themselves indicate the insider’s view of the company’s prospects.