James S. Mahan III, Chief Executive Officer and a director and 10% owner of Live Oak Bancshares, Inc. (NASDAQ:LOB), filed a Form 4 on September 3, 2026, disclosing the sale of 10,000 shares of Voting Common Stock on September 2, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Shares sold: 9,742 shares disposed of at a weighted average price of $39.5323, with individual trade prices ranging from $35.855 to $39.79.
  • Additional sale: 258 shares disposed of at a weighted average price of $39.875, with individual trade prices ranging from $39.84 to $39.975.
  • Trading plan: Both sales were made pursuant to a Rule 10b5-1 trading plan adopted by Mahan on August 27, 2025.
  • Post-transaction ownership (James S. Mahan Revocable Trust): 2,777,844 shares held indirectly following the reported transactions.
  • Additional indirect holdings: 3,032,547 shares via Marguerite D. Mahan Revocable Trust; 127,167 shares each via 2021 Chip Mahan Family and Charitable Trust and 2021 Peggy Mahan Family Trust; and 140,150 shares via Peapod II, LLC.
  • Filing signed: By Jonathan A. Greene, by Power of Attorney, on September 3, 2026.

Mahan's September 2026 Share Sales at Live Oak Bancshares

According to the filing, James S. Mahan III, who serves as Chief Executive Officer, a director, and a 10% owner of Live Oak Bancshares, Inc., disposed of a combined 10,000 shares of Voting Common Stock on September 2, 2026. The transactions were executed through the James S. Mahan Revocable Trust, which holds shares indirectly on his behalf. Both sales carried transaction code "S" and are classified as dispositions (D) under the applicable instructions.

The filing discloses that the first sale of 9,742 shares was executed at a weighted average price of $39.5323, with individual trades ranging from $35.855 to $39.79. The second sale of 258 shares was executed at a weighted average price of $39.875, with individual trades ranging from $39.84 to $39.975. The filing states that full information regarding the number of shares and prices at which each trade was effected is available upon request to the SEC staff, the issuer, or a security holder of the issuer.

The filing notes that both sales "were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025." The form also indicates the box was checked confirming the transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). In addition to the James S. Mahan Revocable Trust holdings, the filing reports further indirect beneficial ownership in shares held by the Marguerite D. Mahan Revocable Trust, the 2021 Chip Mahan Family and Charitable Trust, the 2021 Peggy Mahan Family Trust, and Peapod II, LLC, with no transactions reported in those accounts.

What Was Disclosed

The Form 4 filed September 3, 2026, reports the disposition of 10,000 shares of Live Oak Bancshares Voting Common Stock by CEO James S. Mahan III on September 2, 2026, via the James S. Mahan Revocable Trust, under a pre-established Rule 10b5-1 trading plan.