Live Oak Bancshares (LOB) CEO James S. Mahan III Sells Shares

What Happened

• James S. Mahan III, CEO of Live Oak Bancshares (LOB), sold a total of 10,000 common shares in open-market transactions on September 2, 2026. The filings show two disposals: 9,742 shares at a weighted avg. price of $39.53 ($385,124) and 258 shares at a weighted avg. price of $39.88 ($10,288), for aggregate proceeds of approximately $395,412. These were sales (not purchases).

Key Details

• Transaction date: 2026-09-02; Form 4 filed: 2026-09-03 (appears timely).
• Sales reported: 9,742 shares @ $39.53 = $385,124; 258 shares @ $39.88 = $10,288; total = 10,000 shares, ~$395,412.
• Footnote F1: Transactions were effected pursuant to a Rule 10b5-1 trading plan adopted Aug 27, 2025.
• Footnote F2: The 9,742-share sale was executed in multiple trades at prices ranging $35.855–$39.79; $39.53 is the weighted average reported.
• Footnote F3: The 258-share sale was executed in multiple trades at prices ranging $39.84–$39.975; $39.88 is the weighted average reported.
• The reporting person offers to provide, upon request, the detailed number of shares and prices for the multiple trades.
• Shares owned after the transactions are not included in the provided excerpt of the filing.

Context

• These were routine open-market sales made under a pre-established 10b5-1 plan. Sales by executives are common and do not by themselves indicate company performance or insider sentiment.