Live Oak Bancshares holder plans 10K-share sale

James S. Mahan III, via his revocable trust, has filed to sell another 10,000 LOB common shares under Rule 144 following several similar 10,000-share sales in recent months.

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. (LOB) received a Rule 144 notice that James S. Mahan III, through Fidelity Brokerage Services LLC, plans to sell 10,000 shares of common stock, with an indicated aggregate market value of $386,312.10 as of September 9, 2026.

The notice states that this sale and multiple prior sales over the past three months were made from the James S Mahan Revocable Trust, where Mahan is a trustee and account stakeholder. Those earlier trust sales each involved 10,000 shares of common stock on various dates in June, August, and early September 2026 with reported proceeds in the $380,000–$430,000 range per block.

Key Figures

Planned shares to be sold: 10,000 shares Aggregate market value of planned sale: $386,312.10 Acquisition date of current block: December 18, 2008 +3 more

6 metrics

Planned shares to be sold 10,000 shares Common stock covered by the current Rule 144 notice

Aggregate market value of planned sale $386,312.10 Value associated with 10,000 shares as of September 9, 2026

Acquisition date of current block December 18, 2008 Date the pre-IPO shares to be sold were acquired from the issuer

Prior sale example (June 10, 2026) 10,000 shares for $387,321.69 Common stock sale by James S Mahan Rev Trust during past 3 months

Prior sale example (August 12, 2026) 10,000 shares for $427,475.33 Common stock sale by James S Mahan Rev Trust during past 3 months

Recent sale example (September 3, 2026) 10,000 shares for $397,465.47 Common stock sale by James S Mahan Rev Trust during past 3 months

Key Terms

Rule 144, Pre-IPO Shares, attorney-in-fact

3 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Pre-IPO Shares financial

"Common | 12/18/2008 | Pre-IPO Shares | Issuer"

attorney-in-fact regulatory

"as attorney-in-fact for James Mahan III"

An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.

FAQ

What does the Form 144 filing disclose for Live Oak Bancshares (LOB)?

It discloses that James S. Mahan III, through Fidelity Brokerage Services LLC, has filed a Rule 144 notice to sell 10,000 shares of Live Oak Bancshares common stock with an indicated aggregate market value of $386,312.10 as of September 9, 2026.

Who is selling Live Oak Bancshares (LOB) shares in this Form 144?

The shares are for the account of James S. Mahan III. The filing states that today’s sale and those in the past three months occurred in the James S Mahan Revocable Trust, of which he is a trustee and account stakeholder, with Fidelity Brokerage Services LLC acting as broker.

How many Live Oak Bancshares (LOB) shares are planned to be sold now?

The notice covers a planned sale of 10,000 shares of Live Oak Bancshares common stock. The securities information section lists common stock held at Fidelity Brokerage Services LLC with an aggregate market value of $386,312.10 tied to this 10,000-share amount.

What past 3‑month sales of LOB stock does the Form 144 list?

It lists multiple sales by the James S Mahan Rev Trust, each for 10,000 shares of common stock on dates including June 10, 2026 and August 12, 2026, with reported proceeds such as $387,321.69 and $427,475.33 for those respective transactions.

Are the Live Oak Bancshares (LOB) shares in this Form 144 pre-IPO shares?

Yes. In the securities-to-be-sold section, the common shares are described as “Pre-IPO Shares” acquired on December 18, 2008 from the issuer for cash, indicating they were obtained before Live Oak Bancshares’ initial public offering.

What role does Fidelity Brokerage Services play in this LOB Form 144?

Fidelity Brokerage Services LLC is listed as the broker for the common stock and its representative Daniel Tucci signs the notice as a duly authorized representative and attorney-in-fact for James S. Mahan III in connection with these sales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/09/2026 - 04:18 PM Accepted by SEC EDGAR 09/09/2026 - 04:18 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001036743
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Live Oak Bancshares, Inc.
SEC File Number	001-37497
Address of Issuer	1741 TIBURON DRIVE WILMINGTON NORTH CAROLINA 28403
Phone	910-790-5867
Name of Person for Whose Account the Securities are To Be Sold	MAHAN JAMES S III
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	10000	386312.10	46283620	09/09/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/18/2008	Pre-IPO Shares	Issuer			10000	12/18/2008	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	06/10/2026	10000	387321.69
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	06/11/2026	10000	381850.88
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	08/12/2026	10000	427475.33
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	08/13/2026	10000	431006.70
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	08/19/2026	10000	412350.76
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	08/20/2026	10000	405317.46
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	08/26/2026	10000	399877.69
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	08/27/2026	10000	396589.67
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	09/02/2026	10000	395412.04
James S Mahan Rev Trust 741 Tiburon Drive Wilmington NC 28403	Common	09/03/2026	10000	397465.47

144: Remarks and Signature

Remarks	Today's sale and those that are recorded in the past 3 months occurred in the James S Mahan Rev Trust of which James S. Mahan III is a trustee and account stakeholder.
Date of Notice	09/09/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	08/27/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Daniel Tucci, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for James Mahan III
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)