Who executed the recent share sales reported for Live Oak Bancshares (LOB)?

The sales were executed by the James S. Mahan Revocable Trust, an entity associated with CEO James S. Mahan III. The filing classifies these holdings as indirect ownership, meaning the shares are held through the trust rather than directly in the executive’s personal name.

CEO’s trust sells 20,000 Live Oak (NASDAQ: LOB) shares under Rule 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

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.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($737,303)

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 — 2,867,923 shares (Indirect, By James S. Mahan Revocable Trust)

Footnotes (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 $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. 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. 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""

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/05/2026 - 05:09 PM Accepted by SEC EDGAR 06/05/2026 - 05:09 PM

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).

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Voting Common Stock	06/03/2026		S⁽¹⁾		9,363	D	$36.4212⁽²⁾	2,878,481	I	By James S. Mahan Revocable Trust
Voting Common Stock	06/03/2026		S⁽¹⁾		637	D	$37.1419⁽³⁾	2,877,844	I	By James S. Mahan Revocable Trust
Voting Common Stock	06/04/2026		S⁽¹⁾		9,921	D	$37.2601⁽⁴⁾	2,867,923	I	By James S. Mahan Revocable Trust
Voting Common Stock	06/04/2026		S⁽¹⁾		79	D	$37.65	2,867,844	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $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.

3. 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.

4. 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.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	06/05/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Live Oak Bancshares (LOB) disclose in this Form 4?

Live Oak Bancshares reported that a trust associated with CEO James S. Mahan III sold 20,000 shares of Voting Common Stock in open-market transactions. The trades occurred on June 3 and June 4, 2026, at prices in the mid-$36 to high-$37 range.

How many Live Oak Bancshares (LOB) shares were sold and at what prices?

The Form 4 shows total reported sales of 20,000 shares of Voting Common Stock. Reported weighted average prices include $36.4212, $37.1419, $37.2601, and $37.6500 per share, reflecting multiple trades within narrow price ranges on June 3 and June 4, 2026.

Were the Live Oak Bancshares (LOB) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote explains that the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on August 27, 2025. Such pre-arranged plans allow insiders to schedule trades in advance, helping separate trading activity from day-to-day market timing decisions.

How many Live Oak Bancshares (LOB) shares does the reporting trust hold after the sales?

One of the reported transactions shows the James S. Mahan Revocable Trust holding 2,867,844 shares of Voting Common Stock after the sale. This indicates the 20,000 shares sold are small compared with the trust’s remaining reported indirect position in LOB stock.

What type of security was involved in the Live Oak Bancshares (LOB) insider trades?

All reported transactions involve Voting Common Stock of Live Oak Bancshares, Inc. The Form 4 lists each trade as a non-derivative transaction, meaning the trust sold actual shares rather than options, warrants, or other derivative securities linked to the company’s stock.