X0306 4 2022-02-14 0 0001126961 GRANDSOUTH BANCORPORATION GRRB 0001184122 SCHWIERS JAMES B 381 HALTON RD. GREENVILLE SC 29607 1 1 0 0 President & COO Common Stock 2022-02-14 4 M 0 24161 14 A 90340 D Employee Stock Option (right to buy) 14 2022-02-14 4 M 0 24161 0 D 2021-06-22 2026-06-22 Common Stock 24161 34183 D Employee Stock Option (right to buy) 16.55 2024-06-21 2029-06-21 Common Stock 50000 50000 D Preferred Stock - Series A Common Stock 3153 3153 D Granted pursuant to the 2009 Stock Option Plan. The shares subject to this option vested and became exercisable as follows: 20% on each June 21, 2017, 2018, 2019, 2020, and 2021 Granted pursuant to the 2019 Stock Option Plan. The shares subject to this option vested and became exercisable, or will vest, subject to conditions, and become exercisable as follows: 20% on each June 21, 2020, 2021, 2022, 2023, and 2024. The Series A Preferred Stock is convertible upon a Change of Control (as defined in the Articles of Amendment designating the Series A Preferred) into a number of shares of the issuers common stock on a one-for-one basis and has no expiration date. /s/ Nelson Mullins Riley & Scarborough LLP as POA for James B. Schwiers 2022-02-16