Live Oak Bancshares (LOB) CEO James S. Mahan III Sells 10,000 Shares

What Happened

• James S. Mahan III, CEO of Live Oak Bancshares (LOB), sold 10,000 shares in an open-market transaction on September 3, 2026. The reported weighted-average price was $39.75 per share, for total proceeds of about $397,466. The transaction is coded as a sale (S).

Key Details

• Transaction date: 2026-09-03.
• Price: weighted average $39.75; individual trades ranged from $39.54 to $40.17 (per footnote).
• Total proceeds: approximately $397,466.
• Post-transaction holdings: not specified in the provided summary — see the Form 4 for exact shareholdings after the sale.
• Footnotes: (1) Sale was made under a Rule 10b5-1 trading plan adopted Aug 27, 2025. (2) Trade executed in multiple transactions; full trade-level prices and quantities are available upon request to the SEC staff, the issuer, or a security holder.
• Filing timeliness: Form filed 2026-09-08 for a 2026-09-03 transaction (filed five days after the trade), which appears later than the typical two-business-day Form 4 reporting requirement.

Context

• This was a planned sale under a pre-established 10b5-1 plan, which generally indicates the trades were scheduled in advance and may not reflect the insider’s current view of the company. Sales are common and often routine; they do not necessarily signal a change in the executive’s outlook.