Live Oak CEO sells 20,000 shares via trust
Live Oak Bancshares, Inc. director and Chief Executive Officer James S. Mahan III, through the James S. Mahan Revocable Trust, reported selling a total of 20,000 shares of Voting Common Stock in open-market transactions.
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. director and Chief Executive Officer James S. Mahan III, through the James S. Mahan Revocable Trust, reported selling a total of 20,000 shares of Voting Common Stock in open-market transactions. The trust sold 10,000 shares at a weighted average price of $37.6513 on May 27, 2026 and another 10,000 shares at a weighted average price of $37.2481 on May 28, 2026, under a pre-arranged Rule 10b5-1 trading plan adopted on August 27, 2025. Following these sales, the trust held 2,887,844 shares, and the Form 4 also lists additional indirect holdings in other family trusts and entities.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
6 txns
Insider
MAHAN JAMES S III
Role
Chief Executive Officer
Sold
20,000 shs ($749K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Voting Common Stock | 10,000 | $37.2481 | $372K |
| Sale | Voting Common Stock | 10,000 | $37.6513 | $377K |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Holdings After Transaction:
Voting Common Stock — 2,887,844 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 $37.40 to $38.22. 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 $36.785 to $37.68. 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 May 27, 2026: 10,000 shares at $37.6513
Shares sold May 28, 2026: 10,000 shares at $37.2481
Total shares sold: 20,000 shares
+4 more
7 metrics
Shares sold May 27, 2026
10,000 shares at $37.6513
Open-market sale by James S. Mahan Revocable Trust
Shares sold May 28, 2026
10,000 shares at $37.2481
Open-market sale by James S. Mahan Revocable Trust
Total shares sold
20,000 shares
Net-sell over two days per transaction summary
Shares held after May 28 sale
2,887,844 shares
Post-transaction holdings of James S. Mahan Revocable Trust
Shares held after May 27 sale
2,897,844 shares
Post-transaction holdings of James S. Mahan Revocable Trust on May 27, 2026
Peapod II, LLC indirect holding
140,150 shares
Indirect ownership entry as of May 27, 2026
Marguerite D. Mahan Revocable Trust holding
3,032,547 shares
Indirect ownership entry as of May 27, 2026
Key Terms
Rule 10b5-1 trading plan, Voting Common Stock, weighted average price, Revocable Trust, +1 more
5 terms
Rule 10b5-1 trading plan financial
"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.
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.
Revocable Trust financial
"nature_of_ownership: "By James S. Mahan Revocable Trust""
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
indirect financial
"ownership_type: "indirect""
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