Live Oak (LOB) 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 of LOB in two open-market transactions. On Sept 9, 2026 he disposed of 10,000 shares at a weighted-average price of $38.63 (proceeds ~$386,312). On Sept 10, 2026 he disposed of 10,000 shares at a weighted-average price of $38.75 (proceeds ~$387,485). These were sales (S), commonly routine dispositions; the filing does not state any purchase activity.

Key Details

• Transaction dates and prices: Sept 9, 2026 — 10,000 shares @ $38.63 (WAP; range per footnote $38.255–$39.08); Sept 10, 2026 — 10,000 shares @ $38.75 (WAP; range per footnote $38.35–$39.08).
• Total proceeds: approximately $773,797.
• Shares owned after transaction: not disclosed in the provided excerpt of the filing.
• Notable footnotes: F1 — sales were executed under a Rule 10b5-1 trading plan adopted Aug 27, 2025; F2/F3 — each reported price is a weighted average over multiple trades and the filer will provide trade-level details upon request.
• Filing timeliness: Form 4 filed Sept 11, 2026; appears timely (filed shortly after the reported trades).

Context

• These were open-market sales under a pre-established 10b5-1 plan, which typically allow insiders to sell shares according to a pre-set schedule and can reduce questions about timing.
• Sales do not necessarily indicate management view on the company’s prospects; they may reflect personal liquidity or diversification needs.