X0306 4 2020-06-01 0 0001513818 Aravive, Inc. ARAV 0001033409 ESHELMAN FREDRIC N C/O ARAVIVE, INC. RIVER OAKS TOWER, 3730 KIRBY DRIVE, SUITE 1200 HOUSTON TX 77098 1 0 0 0 0001706673 Eshelman Ventures, LLC C/O ARAVIVE, INC. RIVER OAKS TOWER 3730 KIRBY DRIVE, SUITE 1200 HOUSTON TX 77098 0 0 0 1 See Remarks Stock Option 12.72 2020-06-01 4 A 0 7500 0.00 A 2020-06-01 2030-05-31 Common stock 7500 7500 D Stock Option 12.72 2020-06-01 4 A 0 3226 0.00 A 2020-06-01 2030-05-31 Common stock 3226 3226 D These options vest as follows: (i) 417 shares vest immediately upon grant and (ii) the remaining balance options vest pro rata on a monthly basis over the next thirty-four (34) months. These options vest as follows; (i) 1,110 shares vest immediately and (ii) 529 shares vest on a monthly basis over next four (4) months commencing June 19, 2020 with full vesting, if not fully vested at such time, on the date of Aravive's next annual meeting of stockholders. Dr. Fredric Eshelman is a director of Aravive, Inc and is the founder and principal of Eshelman Ventures, LLC. ESHELMAN VENTURES, LLC, By: /s/ Fredric N. Eshelman, Name: Fredric N. Eshelman, Title: Managing Member 2020-06-03 /s/ Fredric N. Eshelman 2020-06-03