X0306 4 2017-01-31 0 0001462120 Live Oak Bancshares, Inc. LOB 0001647119 Caines S. Brett 1741 TIBURON DRIVE WILMINGTON NC 28403 0 1 0 0 Chief Financial Officer Voting Common Stock 434510 D Performance Restricted Stock Units 2017-01-31 4 A 0 3427 0.00 A 2024-01-31 Voting Common Stock 3427 3427 D Restricted Stock Units Voting Common Stock 130 130 D Performance Restricted Stock Units 2023-11-30 Voting Common Stock 50000 50000 D Each performance restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from January 1, 2017 through December 31, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $38.00 per share for at least twenty (20) consecutive trading days at any time prior to January 31, 2024. Each restricted stock unit represents a right to receive one share of the Company's voting common stock. The restricted stock units vest in three equal annual installments beginning on January 30, 2016. Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from October 1, 2016 through September 30, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $34.00 per share for at least twenty (20) consecutive trading days at any time prior to November 30, 2023. /s/ Jonathan A. Greene, by Power of Attorney 2017-02-02