Canopy Growth stock tumbles after announcing $200 million share sale plan
Live Oak Bancshares, Inc. (NYSE:LOB) disclosed Wednesday that its Chairman and Chief Executive Officer, James S. Mahan III, has entered into a prearranged stock trading plan to sell up to 400,000 shares of the company’s voting common stock. The plan was adopted as part of Mahan’s personal long-term financial and tax planning strategies.
According to the company’s statement, the sales may occur beginning in November 2025 and could extend through September 2026. The trading plan is structured to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material nonpublic information.
Any transactions completed under this plan will be reported through Form 4 filings with the Securities and Exchange Commission.
Live Oak Bancshares is based in Wilmington, North Carolina, and its common stock is listed on the New York Stock Exchange under the ticker LOB. The information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Live Oak Bancshares has announced a pre-tax gain from the acquisition of Apiture by Computer Services Inc. (CSI), estimated between $20 million and $25 million. This development follows the company’s investment in Apiture, which will become a wholly owned subsidiary of CSI after the merger. Additionally, Live Oak Bancshares declared cash dividends for both its common and preferred shares, with payments scheduled for September 2025. In terms of stock ratings, Keefe, Bruyette & Woods (KBW) upgraded Live Oak Bancshares from Market Perform to Outperform, citing a positive credit improvement outlook. The firm’s price target for the company has been raised to $43.00. Furthermore, KBW reiterated its Outperform rating on Live Oak Bancshares, highlighting the expected gains from the Apiture acquisition. In corporate governance, Live Oak Bancshares appointed Jeffrey W. Lunsford to its board of directors, leveraging his three decades of technology leadership experience. These developments reflect a series of strategic and financial moves by the company.
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