Live Oak director sells 1,810 shares at $40

A Live Oak Bancshares director reported a small 10b5-1 plan-driven share sale while retaining substantial direct and indirect holdings.

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. (LOB) director William L. Williams III reported an indirect sale of 1,810 shares of Voting Common Stock on September 2, 2026, by the William L. Williams Revocable Trust at a weighted average price of $40.0006 per share, in trades ranging from $40.00 to $40.01. The sale was effected under a Rule 10b5-1 trading plan adopted on March 12, 2026. After this transaction, the revocable trust held 1,112,315.8621 shares, and Williams also reported 52,825 shares held directly, 14,110 shares held indirectly through Spoint-ILM, LLC, and 137,025 shares held indirectly through the Elizabeth Williams Family Trust.

Insider Trade Summary 10b5-1

Net Seller: 1,810 shares

Net Sell 4 txns

Insider WILLIAMS WILLIAM L. III

Role Director

Sold 1,810 shs ($72K)

Type	Security	Shares	Price	Value
Sale	Voting Common Stock F1, F2	1,810	$40.0006	$72K
holding	Voting Common Stock	--	--	--
holding	Voting Common Stock	--	--	--
holding	Voting Common Stock	--	--	--

Holdings After Transaction: Voting Common Stock — 1,112,315.8621 shares (Indirect, By William L. Williams Revocable Trust); Voting Common Stock — 52,825 shares (Direct); Voting Common Stock — 14,110 shares (Indirect, By Spoint-ILM, LLC); Voting Common Stock — 137,025 shares (Indirect, By Elizabeth Williams Family Trust)

Footnotes (2)

1. F1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 12, 2026.
2. F2. This transaction was executed in multiple trades at prices ranging from $40.00 to $40.01. 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: 1,810 shares Weighted average sale price: $40.0006 per share Revocable trust holdings after transaction: 1,112,315.8621 shares +4 more

7 metrics

Shares sold 1,810 shares Indirect sale on September 2, 2026 by the William L. Williams Revocable Trust

Weighted average sale price $40.0006 per share Sale of 1,810 shares on September 2, 2026 in trades from $40.00 to $40.01

Revocable trust holdings after transaction 1,112,315.8621 shares Indirect holdings by the William L. Williams Revocable Trust after the sale

Direct holdings after transaction 52,825 shares Shares held directly by William L. Williams III as of September 2, 2026

Spoint-ILM, LLC indirect holdings 14,110 shares Shares held indirectly through Spoint-ILM, LLC as of September 2, 2026

Elizabeth Williams Family Trust indirect holdings 137,025 shares Shares held indirectly through the Elizabeth Williams Family Trust as of September 2, 2026

Rule 10b5-1 plan adoption date March 12, 2026 Trading plan under which the reported sales were effected

Key Terms

Rule 10b5-1 trading plan, weighted average price, indirect ownership

3 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 March 12, 2026."

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.

indirect ownership financial

"Indirect holdings reported through the William L. Williams Revocable Trust, Spoint-ILM, LLC and the Elizabeth Williams Family Trust."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LOB director William L. Williams III report?

He reported an indirect sale of 1,810 shares of Live Oak Bancshares Voting Common Stock on September 2, 2026 by the William L. Williams Revocable Trust at a weighted average price of $40.0006 per share.

Was the September 2, 2026 LOB share sale under a Rule 10b5-1 plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan that William L. Williams III adopted on March 12, 2026.

What price range did the LOB shares sell for in this Form 4?

The transaction was executed in multiple trades at prices ranging from $40.00 to $40.01 per share, with $40.0006 reported as the weighted average price.

How many Live Oak Bancshares shares did the revocable trust hold after the sale?

After the September 2, 2026 sale, the William L. Williams Revocable Trust held 1,112,315.8621 shares of Live Oak Bancshares Voting Common Stock indirectly for William L. Williams III.

What are William L. Williams III’s other reported LOB share holdings?

He reported 52,825 shares held directly, 14,110 shares held indirectly through Spoint-ILM, LLC, and 137,025 shares held indirectly through the Elizabeth Williams Family Trust, all as of September 2, 2026.

How many shares in total were sold in this LOB Form 4 filing?

The filing reports the sale of 1,810 shares of Live Oak Bancshares Voting Common Stock on September 2, 2026; no additional buy or sell transactions are listed.

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

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Available on EDGAR 09/03/2026 - 05:03 PM EDT Accepted by SEC EDGAR 09/03/2026 - 04:52 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WILLIAMS WILLIAM L. III

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NORTH CAROLINA 28403

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Live Oak Bancshares, Inc. [ LOB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Voting Common Stock	09/02/2026		S(1)		1,810	D	$40.0006(2)	1,112,315.8621	I	By William L. Williams Revocable Trust
Voting Common Stock								52,825	D
Voting Common Stock								14,110	I	By Spoint-ILM, LLC
Voting Common Stock								137,025	I	By Elizabeth Williams Family Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 12, 2026.

2. This transaction was executed in multiple trades at prices ranging from $40.00 to $40.01. 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.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	09/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)