Live Oak CEO trust sells 10K shares at about $39.5
Live Oak Bancshares’ CEO and major shareholder reports a pre-planned sale of 10,000 shares through a revocable trust under a Rule 10b5-1 trading plan.
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. (LOB) reports that James S. Mahan III, its chief executive officer, director and more-than-10% shareholder, had a trust associated with him sell a total of 10,000 shares of Voting Common Stock on September 2, 2026, in open-market transactions at weighted average prices around the high-$30 range. The sales were effected by the James S. Mahan Revocable Trust pursuant to a Rule 10b5-1 trading plan adopted on August 27, 2025. Mahan also reports continued indirect ownership of substantial share positions through several family trusts and an LLC, including 3,032,547 shares held by the Marguerite D. Mahan Revocable Trust.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 10,000 shares
Net Sell
6 txns
Insider
MAHAN JAMES S III
Role
Chief Executive Officer
Sold
10,000 shs ($395K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Voting Common Stock F1, F2 | 9,742 | $39.5323 | $385K |
| Sale | Voting Common Stock F1, F3 | 258 | $39.875 | $10K |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Holdings After Transaction:
Voting Common Stock — 2,777,844 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 (3)
- 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 $35.855 to $39.79. 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 $39.84 to $39.975. 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 (Revocable Trust): 10,000 shares
Sale price (first block, weighted average): $39.5323 per share
Sale price (second block, weighted average): $39.8750 per share
+5 more
8 metrics
Shares sold (Revocable Trust)
10,000 shares
Total Voting Common Stock sold indirectly on September 2, 2026
Sale price (first block, weighted average)
$39.5323 per share
9,742 shares of Voting Common Stock sold on September 2, 2026
Sale price (second block, weighted average)
$39.8750 per share
258 shares of Voting Common Stock sold on September 2, 2026
Price range for first sale block
$35.855 to $39.79
Multiple trades underlying the 9,742-share sale
Price range for second sale block
$39.84 to $39.975
Multiple trades underlying the 258-share sale
Indirect holding (Marguerite D. Mahan Revocable Trust)
3,032,547 shares
Voting Common Stock reported as indirectly owned after transactions
Indirect holding (2021 Chip Mahan Family and Charitable Trust)
127,167 shares
Voting Common Stock reported as indirectly owned after transactions
Indirect holding (Peapod II, LLC)
140,150 shares
Voting Common Stock reported as indirectly owned after transactions
Key Terms
Rule 10b5-1 trading plan, weighted average price, Voting Common Stock
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 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
"Voting Common Stock"
FAQ
What did the insider do in this Form 4 for LOB?
James S. Mahan III, chief executive officer, director and more-than-10% shareholder, reported that a revocable trust associated with him sold 10,000 shares of Live Oak Bancshares Voting Common Stock on September 2, 2026 in open-market transactions under a pre-arranged plan.
Were the LOB insider sales made under a Rule 10b5-1 trading plan?
Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025, and the plan status is affirmed on the form.
Does the Form 4 show any option exercises or derivative transactions for LOB?
No. The filing reports no derivative security transactions for this date. It only shows sales of Voting Common Stock and updated indirect holdings through various trusts and an LLC.
AI-generated analysis. How Rhea-AI works. Not financial advice.
