X0306 4 2016-12-20 0 0001534525 Xenetic Biosciences, Inc. XBIO 0001089409 DEPTULA-HICKS DARLENE M 99 HAYDEN AVENUE, SUITE 230 LEXINGTON MA 02421 1 0 0 0 Stock Option 3.50 2016-12-20 4 A 0 10000 0.00 A 2017-03-20 2026-12-20 Common Stock 10000 31416 D Stock Option 3.50 2016-12-20 4 A 0 10000 0.00 A 2017-06-20 2026-12-20 Common Stock 10000 41416 D Stock Option 3.50 2016-12-20 4 A 0 10000 0.00 A 2017-09-20 2026-12-20 Common Stock 10000 51416 D Stock Option 3.50 2016-12-20 4 A 0 10000 0.00 A 2017-12-20 2026-12-20 Common Stock 10000 61416 D On December 20, 2016 the Issuer approved the issuance of a Stock Option Grant to the Reporting Owner under its 2014 Equity Incentive Plan (the "Plan"). The Reporting Owner has the right to purchase 40,000 shares of common stock of the Issuer under the Plan at an exercise price based on the closing price on December 19, 2016 of $3.50. The Option vests quarterly over twelve months. /s/ Darlene Deptula-Hicks 2016-12-22