Officer and Director Files to Sell Additional $387K in Shares, Continuing Recent Trend
Summary
An Officer and Director of Live Oak Bancshares has filed to sell an additional $387,321 in shares, continuing a recent pattern of insider sales.
Key Events
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Intent to Sell Shares
Officer and Director James S. Mahan III filed a Form 144 to sell 10,000 shares of common stock, valued at approximately $387,321.
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Continuation of Insider Selling Trend
This filing is part of an ongoing pattern, with Mahan having sold 100,000 shares totaling over $3.6 million in gross proceeds over the past three months.
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Broader Insider Distribution
The company has seen a net distribution of over $6.4 million in open-market sales by insiders over the last 90 days.
Analysis
James S. Mahan III, an Officer and Director, has filed a Form 144 indicating intent to sell an additional $387,321 worth of common stock. This filing extends a pattern of insider sales from Mahan, who has sold over $3.6 million in shares in the past three months, and contributes to a broader net distribution trend by insiders totaling over $6.4 million in the last 90 days.
At the time of this filing, LOB was trading at $38.21 on NYSE in the Finance sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $27.35 to $42.89. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.