Mahan trust sells 20,000 Live Oak Bancshares shares
Live Oak Bancshares, Inc. director and Chief Executive Officer James S. Mahan III reported open-market sales of 20,000 shares of Voting Common Stock indirectly held through the James S. Mahan Revocable Trust.
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. director and Chief Executive Officer James S. Mahan III reported open-market sales of 20,000 shares of Voting Common Stock indirectly held through the James S. Mahan Revocable Trust.
The shares were sold at weighted average prices between about $37.77 and $39.25, leaving the trust holding 2,847,844 shares following the most recent transaction on June 11, 2026. According to a footnote, these sales were effected under a pre-arranged Rule 10b5-1 trading plan adopted on August 27, 2025, indicating they were scheduled in advance rather than timed discretionarily.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
7 txns
Insider
MAHAN JAMES S III
Role
Chief Executive Officer
Sold
20,000 shs ($769K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Voting Common Stock | 10,000 | $38.1851 | $382K |
| Sale | Voting Common Stock | 9,085 | $38.6848 | $351K |
| Sale | Voting Common Stock | 915 | $39.2027 | $36K |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Holdings After Transaction:
Voting Common Stock — 2,847,844 shares (Indirect, By James S. Mahan Revocable Trust);
Voting Common Stock — 3,032,547 shares (Indirect, By Marguerite D. Mahan Revocable Trust);
Voting Common Stock — 127,167 shares (Indirect, By 2021 Chip Mahan Family and Charitable Trust);
Voting Common Stock — 127,167 shares (Indirect, By 2021 Peggy Mahan Family Trust);
Voting Common Stock — 140,150 shares (Indirect, By Peapod II, LLC)
Footnotes (4)
- F1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025.
- F2. This transaction was executed in multiple trades at prices ranging from $38.15 to $39.14. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
- F3. This transaction was executed in multiple trades at prices ranging from $39.15 to $39.25. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
- F4. This transaction was executed in multiple trades at prices ranging from $37.77 to $38.67 The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected.
Key Figures
Shares sold: 20,000 shares
Price per share (sale 1): $38.1851/share
Price per share (sale 2): $39.2027/share
+5 more
8 metrics
Shares sold
20,000 shares
Total Voting Common Stock sold across reported transactions
Price per share (sale 1)
$38.1851/share
Open-market sale on June 11, 2026
Price per share (sale 2)
$39.2027/share
Open-market sale on June 10, 2026 with weighted average price
Price per share (sale 3)
$38.6848/share
Open-market sale on June 10, 2026 with weighted average price
Shares held after latest sale
2,847,844 shares
Voting Common Stock held by James S. Mahan Revocable Trust after June 11, 2026 sale
Sell transactions
3 sales
Open-market sales of Voting Common Stock reported in Form 4
Net buy/sell direction
Net sale of 20,000 shares
Transaction summary shows net-sell activity for this filing
10b5‑1 plan adoption date
August 27, 2025
Date the reporting person adopted the Rule 10b5-1 trading plan
Key Terms
Rule 10b5-1 trading plan, weighted average price, Voting Common Stock, open-market sale, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Voting Common Stock financial
"security_title: "Voting Common Stock""
open-market sale financial
"transaction_action: "open-market sale" with transaction_code_description: "Sale in open market or private transaction""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
indirect ownership financial
"direct_or_indirect: "I" and nature_of_ownership: "By James S. Mahan Revocable Trust""
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