James S. Mahan III, Chief Executive Officer and Director of Live Oak Bancshares, Inc. (NYSE:LOB), filed a Form 4 on August 21, 2026, disclosing the sale of 20,000 shares of Voting Common Stock across three transactions on August 19 and 20, 2026, all executed under a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Three sales totaling 20,000 shares: Mahan sold 8,002 shares on August 19, 1,998 shares on August 19, and 10,000 shares on August 20, 2026, all from the James S. Mahan Revocable Trust.
  • Weighted average prices: The three transactions carried weighted average prices of $41.0478, $41.9681, and $40.5283, respectively.
  • Rule 10b5-1 plan: According to the filing, all sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025.
  • Post-transaction indirect holdings: Following the reported sales, the James S. Mahan Revocable Trust held 2,807,844 shares of Voting Common Stock.
  • Additional indirect beneficial ownership: The filing also lists holdings of 3,032,547 shares by the Marguerite D. Mahan Revocable Trust, 127,167 shares each by the 2021 Chip Mahan Family and Charitable Trust and the 2021 Peggy Mahan Family Trust, and 140,150 shares by Peapod II, LLC.
  • Multiple trades per transaction: Each sale was executed in multiple trades; the filing discloses price ranges of $40.785 to $41.75, $41.77 to $42.6624, and $40.20 to $40.8137 for the three transactions, respectively.

Live Oak Bancshares CEO Transaction Details and Beneficial Ownership

According to the Form 4 filed with the SEC on August 21, 2026, James S. Mahan III, who is identified in the filing as Chief Executive Officer, Director, and a 10% Owner of Live Oak Bancshares, Inc. (NYSE:LOB), disposed of 20,000 shares of Voting Common Stock held indirectly through the James S. Mahan Revocable Trust. The filing was signed by Jonathan A. Greene by Power of Attorney.

The first transaction, dated August 19, 2026, involved the disposal of 8,002 shares at a weighted average price of $41.0478, with individual trade prices ranging from $40.785 to $41.75. The second transaction on the same date covered 1,998 shares at a weighted average of $41.9681, with a price range of $41.77 to $42.6624. On August 20, 2026, an additional 10,000 shares were sold at a weighted average price of $40.5283, with individual trades ranging from $40.20 to $40.8137. The filing notes that the reporting person will provide full trade-level detail upon request to the SEC staff, the issuer, or a security holder.

The filing discloses that all three sales were made pursuant to a Rule 10b5-1 trading plan adopted on August 27, 2025. In addition to the James S. Mahan Revocable Trust's post-transaction balance of 2,807,844 shares, the filing lists several other indirect beneficial ownership interests held by Mahan through various trusts and an LLC, none of which were the subject of a transaction in this filing.

What Was Disclosed

The filing disclosed three sales of Voting Common Stock totaling 20,000 shares by Live Oak Bancshares CEO James S. Mahan III, all executed indirectly through the James S. Mahan Revocable Trust under a pre-adopted Rule 10b5-1 plan, with post-sale indirect holdings of 2,807,844 shares in that trust.