Live Oak Bancshares CEO James S. Mahan III Sells 20,000 Shares

What Happened James S. Mahan III, CEO of Live Oak Bancshares, sold a total of 20,000 shares in two open-market transactions: 10,000 shares on 2026-08-26 at a weighted average price of $39.99 for $399,878, and 10,000 shares on 2026-08-27 at a weighted average price of $39.66 for $396,590. Total proceeds were approximately $796,468. These were sales (not purchases), and were executed under a previously adopted trading plan.

Key Details

• Transaction dates/prices: 2026-08-26 — 10,000 shares @ $39.99 (weighted avg; executed in multiple trades at $39.86–$40.12); 2026-08-27 — 10,000 shares @ $39.66 (weighted avg; executed in multiple trades at $39.10–$39.95).
• Total disclosed value: ≈ $796,468.
• Shares owned after transaction: Not reported in this Form 4 filing.
• Footnotes: Sales were made pursuant to a Rule 10b5-1 trading plan adopted by Mahan on August 27, 2025. The filing notes weighted-average prices and offers to provide detailed trade-level quantities/prices on request.
• Filing timeliness: Form filed 2026-08-28 for transactions on 2026-08-26 and 2026-08-27 — appears timely under Form 4 rules.

Context Sales made under a 10b5-1 plan are typically pre-arranged and help insiders avoid questions about trading on nonpublic information; they do not necessarily signal a change in view on the company. For retail investors, purchases by insiders are generally more indicative of confidence than scheduled sales; this filing reports routine, planned sales by the CEO.