Live Oak Bancshares (LOB) CEO and 10% owner reports 10,000-share sale

Rhea-AI Filing Summary

Live Oak Bancshares insider trading report: A reporting person who is a director, chief executive officer, and 10% owner of Live Oak Bancshares, Inc. (LOB) reported selling 10,000 shares of voting common stock on December 17, 2025. The sale, coded as a disposition, was executed at a weighted average price of $35.9699 per share in multiple trades between $35.64 and $36.1623 under a Rule 10b5-1 trading plan adopted on August 27, 2025. After this transaction, the reporting person indirectly beneficially owned 3,077,844 shares through the James S. Mahan Revocable Trust and additional shares through several related trusts and an LLC.

Insider Trade Summary

Net Seller: 10,000 shares ($359,699)

Net Sell 5 txns

Insider MAHAN JAMES S III

Role Chief Executive Officer

Sold 10,000 shs ($360K)

Type	Security	Shares	Price	Value
Sale	Voting Common Stock	10,000	$35.9699	$360K
holding	Voting Common Stock	--	--	--
holding	Voting Common Stock	--	--	--
holding	Voting Common Stock	--	--	--
holding	Voting Common Stock	--	--	--

Holdings After Transaction: Voting Common Stock — 3,077,844 shares (Indirect, By James S. Mahan Revocable Trust)

Footnotes (1)

1. 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. This transaction was executed in multiple trades at prices ranging from $35.64 to $36.1623. 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

MAHAN JAMES S III

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NC 28403

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/17/2025

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

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

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

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	12/17/2025		S(1)		10,000	D	$35.9699(2)	3,077,844	I	By James S. Mahan Revocable Trust
Voting Common Stock								3,032,547	I	By Marguerite D. Mahan Revocable Trust
Voting Common Stock								127,167	I	By 2021 Chip Mahan Family and Charitable Trust
Voting Common Stock								127,167	I	By 2021 Peggy Mahan Family Trust
Voting Common Stock								140,150	I	By Peapod II, LLC

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 August 27, 2025.

2. This transaction was executed in multiple trades at prices ranging from $35.64 to $36.1623. 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	12/19/2025
	** 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.

FAQ

What insider transaction did Live Oak Bancshares (LOB) report in this Form 4?

The filing reports that a director, chief executive officer, and 10% owner of Live Oak Bancshares, Inc. (LOB) sold 10,000 shares of voting common stock on December 17, 2025.

At what price were the Live Oak Bancshares (LOB) shares sold in the reported transaction?

The 10,000 shares of Live Oak Bancshares voting common stock were sold at a weighted average price of $35.9699 per share, with individual trade prices ranging from $35.64 to $36.1623.

Was the Live Oak Bancshares (LOB) insider sale under a Rule 10b5-1 trading plan?

Yes. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025, as stated in the explanation of responses.

How many Live Oak Bancshares (LOB) shares does the insider report owning after the sale?

After the reported transaction, the insider indirectly beneficially owned 3,077,844 shares through the James S. Mahan Revocable Trust, plus additional indirect holdings of 3,032,547 shares through the Marguerite D. Mahan Revocable Trust, 127,167 shares through the 2021 Chip Mahan Family and Charitable Trust, 127,167 shares through the 2021 Peggy Mahan Family Trust, and 140,150 shares through Peapod II, LLC.

Does this Live Oak Bancshares (LOB) Form 4 report any derivative securities?

No. The table for derivative securities shows no reported acquisitions or dispositions, indicating no derivative securities transactions were reported in this filing.

What is the reporting person’s role and status at Live Oak Bancshares (LOB)?

The reporting person is identified as a director, chief executive officer, and 10% owner of Live Oak Bancshares, Inc.