X0306 4 2020-12-31 0 0001462120 Live Oak Bancshares, Inc. LOB 0001635154 SUTHERLAND JOHN W. 1741 TIBURON DRIVE WILMINGTON NC 28403 0 1 0 0 Chief Accounting Officer Voting Common Stock 2020-12-31 4 M 0 7800 10.634 A 66421 D Employee Stock Option (right to buy) 10.634 2020-12-31 4 M 0 7800 0.00 D 2024-09-19 Voting Common Stock 7800 10200 D Restricted Stock Units Voting Common Stock 2302 2302 D Performance Restricted Stock Units 2028-08-10 Voting Common Stock 24000 24000 D Employee Stock Option (right to buy) 17.00 2025-07-22 Voting Common Stock 12000 12000 D The shares subject to this option vest and become exercisable yearly in seven installments beginning on September 19, 2015, as follows: 10% of the shares subject to the option vested on each of September 19, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vest on each of September 19, 2020 and 2021. Each restricted stock unit ("RSU") represents a right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The RSUs vest in five equal annual installments beginning on February 10, 2021, subject to the reporting person's continuous service to the Company or a related entity on such date. Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of the Company's voting common stock. Eight thousand of the PRSUs will vest upon each attainment of closing prices of the Company's voting common stock of equal to or greater than $45.00 per share, $50.00 per share, and $55.00 per share once they are attained for at least twenty (20) consecutive trading days at any time prior to August 10, 2028. The shares subject to this option vest and become exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; and 25% of the shares subject to the option vest on each of July 22, 2021 and 2022. /s/ Jonathan A. Greene, by Power of Attorney 2021-01-04