Form 4: CEO James S. Mahan Sells 10,000 Shares of Live Oak Bancshares

Live Oak Bancshares CEO James S. Mahan sold 10,000 shares of common stock via a pre-arranged Rule 10b5-1 trading plan.

Summary

• CEO James S. Mahan sold 10,000 shares of Live Oak Bancshares (LOB) common stock on May 14, 2026.
• The shares were sold at a weighted average price of $36.226 per share, with individual trade prices ranging from $36.03 to $36.48.
• The transaction was executed under a Rule 10b5-1 trading plan adopted on August 27, 2025.
• Following the sale, the reporting person maintains significant indirect beneficial ownership through various trusts and entities, including 2,927,844 shares held by the James S. Mahan Revocable Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event; the sale was pre-planned and represents a small fraction of the CEO's total beneficial ownership.

Positives

• The sale was conducted under a pre-established Rule 10b5-1 trading plan, which is designed to avoid concerns regarding insider trading by scheduling sales in advance.

Negatives

• The sale represents a reduction in the CEO's direct or indirect equity stake in the company.

Risks

• Market perception of insider selling can sometimes lead to short-term downward pressure on the stock price.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing, as it is a standard disclosure of insider transaction activity.

Industry Context

StockSavvy.ai notes that insider selling by high-level executives, particularly when executed via 10b5-1 plans, is a common practice for liquidity and portfolio diversification and does not necessarily reflect a change in management's outlook on the company's fundamental performance.

Comparison to Industry Standards

• The use of Rule 10b5-1 plans is the industry standard for corporate executives to manage equity holdings while maintaining compliance with SEC regulations.
• The scale of the sale (10,000 shares) is relatively minor compared to the total holdings of the reporting person, which is consistent with typical executive liquidity events in the banking sector.

Stakeholder Impact

• Shareholders should note the reduction in insider ownership, though the pre-planned nature of the sale mitigates concerns regarding negative sentiment.

Next Steps

• Continued monitoring of future Form 4 filings for additional insider transaction activity.

Key Dates

Keywords

Live Oak Bancshares, LOB, Insider Trading, Form 4, James S. Mahan, Banking, Equity Sale