X0306 4 2020-02-10 0 0001462120 Live Oak Bancshares, Inc. LOB 0001754522 Garriott Huntley 1741 TIBURON DRIVE WILMINGTON NC 28403 0 1 0 0 President, Live Oak Bank Voting Common Stock 2020-02-11 4 M 0 7500 A 62500 D Voting Common Stock 2020-02-11 4 F 0 2406 18.00 D 60094 D Restricted Stock Units 2020-02-10 4 A 0 22246 0.00 A Voting Common Stock 22246 22246 D Restricted Stock Units 2020-02-11 4 M 0 7500 0.00 D Voting Common Stock 7500 22500 D Performance Restricted Stock Units 2029-02-11 Voting Common Stock 500000 500000 D Each restricted stock unit ("RSU") represents a contingent 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. The RSUs vest in equal annual installments beginning on February 11, 2020 as follows: 7,500 shares vest on each of February 11, 2020, 2021, 2022, and 2023. Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. A portion of the performance RSUs will vest if the Company's voting common stock attains various closing prices for at least twenty consecutive trading days at any time prior to February 11, 2029, in accordance with the following: 20% of the performance RSUs will vest upon the attainment of closing stock prices of $35.00 per share, $40.00 per share, $45.00 per share, $50.00 per share, and $55.00 per share. /s/ Jonathan A. Greene, By Power of Attorney 2020-02-12