LOBLive Oak Bancshares, Inc. · Insider ownership research

Live Oak Bancshares, Inc. insiders sold $20.5M in the past 12 months. How much of their stake is that?

80% was sold under disclosed trading plans, 20% with no plan disclosed. The largest seller, James Mahan III (Chief Executive Officer, Director), sold $15.1M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026

2

buyers among officers and directors (2 trades), past 12 months

80%

of sales were under disclosed trading plans, past 12 months

9 of 21

officers and directors sold shares, past 12 months

Is this normal? More than usual: about 6x the 5-year average. 9 insiders sold; the average is 4 a year. Year by year

Latest filing: Filed Sep 11 for a sale from Sep 9 to Sep 10. James Mahan III sold 20K shares ($774K) under a disclosed plan. Filing

SEC ownership filings: 103 filed in the 12 months to Oct 16, 2026; 674 on record since Jul 22, 2015 · See the evidence

What stands out

Renato Derraik sold $2.8M of stock with no disclosed trading plan. The filings don't state a reason.Largest such sale, Apr 30, 2026

Two insiders bought shares: Ewa Stasiowska (2.6K shares, $100K) and Tonya Bradford (1K shares, $30K).Ewa Stasiowska: purchase, Jan 26, 2026 · Tonya Bradford: purchase, Nov 20, 2025

A share of stake is shown for 0 of the 9 officers and directors who sold. 21 are left out

i

Left out: James Mahan III, William Williams III, William Cameron, William Losch III, Glen Hoffsis, Miltom Petty, Gregory Seward, Diane Glossman, Renato Derraik, David Lucht, Courtney Spencer, John Sutherland, Jeffrey Lunsford, Yousef Valine, Michael Cairns, Mark Moroz, Walter Phifer, Tonya Bradford, Patrick McHenry, Ewa Stasiowska and Matthew Diffley (share of stake is being verified).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

James Mahan III

Chief Executive Officer, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$15.1MDisclosed plan

Renato Derraik

Chief Info./Digital Off., Bank

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$2.8MNo plan disclosed

William Williams III

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$1.4MDisclosed plan

Courtney Spencer

Chief Experience Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$385KNo plan disclosed

Mark Moroz

Chief Banking Officer

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$257KNo plan disclosed

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 10, 2026James Mahan III sold 10K shares ($387K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
James Mahan III Chief Executive Officer, Director	10,000	$38.75	n/a	n/a	Sep 10, 2026	Sep 11, 2026

Common questions

Is the Live Oak Bancshares, Inc. CEO selling stock?

Yes. James Mahan III sold 400K shares ($15.1M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are Live Oak Bancshares, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 80% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 20% had no disclosed plan. A trading plan schedules sales in advance.

Are any Live Oak Bancshares, Inc. insiders buying?

Yes. 2 officers or directors reported 2 purchases in the past 12 months (Form 4 code P; rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust are not counted).

The evidence

Who sold9 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
James Mahan III Chief Executive Officer, Director	$15.1M 400K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Renato Derraik Chief Info./Digital Off., Bank	$2.8M 75K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
William Williams III Director	$1.4M 34K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Courtney Spencer Chief Experience Officer	$385K 9.9K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Mark Moroz Chief Banking Officer	$257K 6.1K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
David Lucht Director	$215K 5K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Walter Phifer Chief Financial Officer	$172K 4.7K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Gregory Seward General Counsel	$146K 4.2K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Tonya Bradford Director	$64K 1.6K shares	Not confirmed share of stake is being verified. Why	No plan disclosed

The full ownership picture0 of 21 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider	Held Oct 16, 2025	Sold	Held Oct 16, 2026	Still held
James Mahan III ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for James Mahan III are complete. Chief Executive Officer, Director	n/a	−400K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for James Mahan III Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for James Mahan III are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
William Williams III ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for William Williams III are complete. Director	n/a	−34K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for William Williams III Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for William Williams III are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
William Cameron ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for William Cameron are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for William Cameron Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for William Cameron are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
William Losch III ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for William Losch III are complete. President	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for William Losch III Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for William Losch III are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −58Kwithheld by the company for taxes
Glen Hoffsis ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Glen Hoffsis are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Glen Hoffsis Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Glen Hoffsis are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Miltom Petty ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Miltom Petty are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Miltom Petty Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Miltom Petty are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Gregory Seward ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Gregory Seward are complete. General Counsel	n/a	−4.2K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Gregory Seward Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Gregory Seward are complete; balances and unit counts will be added when the check is finished. −250gifted (net of own trusts) −12Kwithheld by the company for taxes
Diane Glossman ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Diane Glossman are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Diane Glossman Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Diane Glossman are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Renato Derraik ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Renato Derraik are complete. Chief Info./Digital Off., Bank	n/a	−75K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Renato Derraik Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Renato Derraik are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −23Kwithheld by the company for taxes
David Lucht ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for David Lucht are complete. Director	n/a	−5K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for David Lucht Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for David Lucht are complete; balances and unit counts will be added when the check is finished. −3Kgifted (net of own trusts)
Courtney Spencer ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Courtney Spencer are complete. Chief Experience Officer	n/a	−9.9K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Courtney Spencer Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Courtney Spencer are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −4.6Kwithheld by the company for taxes
John Sutherland ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for John Sutherland are complete. Chief Accounting Officer	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for John Sutherland Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Sutherland are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −1.3Kwithheld by the company for taxes
Jeffrey Lunsford ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jeffrey Lunsford are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Jeffrey Lunsford Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jeffrey Lunsford are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Yousef Valine ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Yousef Valine are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Yousef Valine Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Yousef Valine are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Michael Cairns ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Michael Cairns are complete. Chief Credit Officer	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Michael Cairns Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Cairns are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −2.7Kwithheld by the company for taxes
Mark Moroz ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Mark Moroz are complete. Chief Banking Officer	n/a	−6.1K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Mark Moroz Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Mark Moroz are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −8.7Kwithheld by the company for taxes
Walter Phifer ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Walter Phifer are complete. Chief Financial Officer	n/a	−4.7K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Walter Phifer Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Walter Phifer are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) −4.1Kwithheld by the company for taxes
Tonya Bradford ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Tonya Bradford are complete. Director	n/a	−1.6K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Tonya Bradford Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Tonya Bradford are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Patrick McHenry ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Patrick McHenry are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Patrick McHenry Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Patrick McHenry are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Ewa Stasiowska ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ewa Stasiowska are complete. Chief Risk Officer	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Ewa Stasiowska Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ewa Stasiowska are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Matthew Diffley ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Matthew Diffley are complete. Chief Accounting Officer	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Matthew Diffley Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Matthew Diffley are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)

Holdings and share of stake for Live Oak Bancshares, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$20.5M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $20.5M across 540,066 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $16.5M · 80%

20%

The lighter segment is sales with no plan disclosed in the filing ($4.1M), including tax-related sales outside a plan.

No plan disclosed · $4.1M

Sales with no 10b5-1 plan and no tax reference in the filing. $2.8M of it is Renato Derraik. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Renato Derraik, Apr 30, 2026

Taxes

115,151 shares ($4.6M) were withheld by the company for taxes, which isn't a market sale.

Purchases · 2 buyers (2 trades)

2 officers and directors bought shares in this period, in 2 trades(Form 4 code P, leaving out rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust). Across all their filings on record there are 73 purchase trades.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
James Mahan III Chief Executive Officer, Director	400K	$15.1M	100%	73%	Nov 26, 2025 to Sep 10, 2026
Renato Derraik Chief Info./Digital Off., Bank	75K	$2.8M	0%	14%	Apr 30, 2026 to Apr 30, 2026
William Williams III Director	34K	$1.4M	100%	7%	Jun 24, 2026 to Sep 3, 2026
Courtney Spencer Chief Experience Officer	9.9K	$385K	0%	2%	Jan 26, 2026 to Aug 4, 2026
Mark Moroz Chief Banking Officer	6.1K	$257K	0%	1%	Jul 28, 2026 to Jul 28, 2026
David Lucht Director	5K	$215K	0%	1%	Jul 27, 2026 to Aug 4, 2026
Walter Phifer Chief Financial Officer	4.7K	$172K	0%	0.8%	Mar 2, 2026 to Mar 2, 2026
Gregory Seward General Counsel	4.2K	$146K	0%	0.7%	Nov 19, 2025 to Mar 2, 2026
Tonya Bradford Director	1.6K	$64K	0%	0.3%	Sep 3, 2026 to Sep 3, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$678K	$642K	$0	$36K
Dec 2025	$2.1M	$2.1M	$0	$0
Jan 2026	$378K	$0	$0	$378K
Feb 2026	$3.2M	$3.2M	$0	$0
Mar 2026	$1.7M	$1.4M	$0	$282K
Apr 2026	$2.8M	$0	$0	$2.8M
May 2026	$2.2M	$2.2M	$0	$0
Jun 2026	$1.8M	$1.8M	$0	$0
Jul 2026	$733K	$350K	$0	$383K
Aug 2026	$2.9M	$2.8M	$0	$95K
Sep 2026	$2.0M	$1.9M	$0	$64K
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

More than usual: about 6x the 5-year average. 9 insiders sold; the average is 4 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 16, 2026 Latest 12 months	540K	9	$20.5M
Oct 16, 2025 1 year earlier	25K	3	$1.2M
Oct 16, 2024 2 years earlier	117K	6	$4.3M
Oct 17, 2023 3 years earlier	0	0	$0
Oct 17, 2022 4 years earlier	179K	6	$16.7M
Oct 17, 2021 5 years earlier	124K	5	$6.9M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty21 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Live Oak Bancshares, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology674 filings on record, 103 filed in the 12-month period, and how we read them

All 674 Forms 3, 4 and 5 on record for Live Oak Bancshares, Inc. (SEC CIK 1462120), filed from Jul 22, 2015 to Sep 11, 2026; 103 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages. 2 filings were left out because Live Oak Bancshares, Inc. filed them as an owner of another company's stock.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (16)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Stephanie Mann	Feb 25, 2025	42,195 shares, last reported balance as of Feb 24, 2025
Micah Davis	Feb 25, 2025	48,115 shares, last reported balance as of Feb 24, 2025
Steve Smits	Feb 26, 2024	317,099 shares, last reported balance as of Feb 23, 2024
Casey Crawford	Sep 6, 2023	1,881 shares, last reported balance as of Aug 22, 2023
Huntley Garriott	Feb 24, 2023	442,033 shares, last reported balance as of Feb 23, 2023
Susan Janson	Feb 24, 2022	30,350 shares, last reported balance as of Feb 22, 2022
Neil Underwood	Feb 4, 2022	1,869,932 shares, last reported balance as of Dec 15, 2021
Brett Caines	Apr 8, 2021	322,406 shares, last reported balance as of Apr 6, 2021
LANDIS H K	Nov 9, 2020	198,300 shares, last reported balance as of Nov 5, 2020
David Salyers	May 14, 2020	4,100 shares, last reported balance as of May 12, 2020
Jerald Pullins	May 16, 2019	248,590 shares, last reported balance as of May 14, 2019
Thomas Hill	Nov 20, 2018	7,824 shares, last reported balance as of Nov 19, 2018
Scott Custer	Aug 9, 2017	80,000 shares, last reported balance as of Aug 7, 2017
Don Jackson	May 11, 2017	90,010 shares, last reported balance as of May 9, 2017
Gregory Thompson	Feb 2, 2017	20,000 shares, last reported balance as of Jan 31, 2017
William Holt	Aug 18, 2015	70 shares, last reported balance as of Aug 14, 2015

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.