Live Oak CEO trust sells 20K LOB shares in plan
Live Oak Bancshares, Inc. Chief Executive Officer James S. Mahan III, through the James S. Mahan Revocable Trust, reported open-market sales of 20,000 shares of Voting Common Stock of LOB.
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. Chief Executive Officer James S. Mahan III, through the James S. Mahan Revocable Trust, reported open-market sales of 20,000 shares of Voting Common Stock of LOB. The sales took place on June 3 and June 4, 2026 at prices in the mid-$36 to high-$37 range.
The filing states these sales were effected under a Rule 10b5-1 trading plan adopted on August 27, 2025, indicating they were pre-arranged. Following one of the reported sales, the trust’s indirect holdings stood at 2,867,844 shares of Voting Common Stock, showing the transactions represent a small portion of the overall reported position.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
8 txns
Insider
MAHAN JAMES S III
Role
Chief Executive Officer
Sold
20,000 shs ($737K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Voting Common Stock | 9,921 | $37.2601 | $370K |
| Sale | Voting Common Stock | 79 | $37.65 | $3K |
| Sale | Voting Common Stock | 9,363 | $36.4212 | $341K |
| Sale | Voting Common Stock | 637 | $37.1419 | $24K |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Holdings After Transaction:
Voting Common Stock — 2,867,844 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 $36.01 to $36.90. 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 $37.13 to $37.28. 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 $36.64 to $37.61. 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
Sale price 1: $36.4212 per share
Sale price 2: $37.1419 per share
+5 more
8 metrics
Shares sold
20,000 shares
Total open-market sales reported across Form 4
Sale price 1
$36.4212 per share
Open-market sale of Voting Common Stock on June 3, 2026
Sale price 2
$37.1419 per share
Open-market sale of Voting Common Stock on June 3, 2026
Sale price 3
$37.2601 per share
Open-market sale of Voting Common Stock on June 4, 2026
Sale price 4
$37.6500 per share
Open-market sale of Voting Common Stock on June 4, 2026
Holdings after sale
2,867,844 shares
Indirect holdings by James S. Mahan Revocable Trust after a reported sale
Net share direction
-20,000 shares
Net-sell direction across reported transactions
Rule 10b5-1 plan date
August 27, 2025
Adoption date of pre-arranged trading plan for these sales
Key Terms
Rule 10b5-1 trading plan, open-market sale, Voting Common Stock, weighted average price, +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.
open-market sale financial
"transaction_action": "open-market sale""
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.
Voting Common Stock financial
""security_title": "Voting Common Stock""
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
""ownership_type": "indirect""
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