X0306 4 2021-01-13 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 2021-01-13 4 M 0 100000 A 295694 D Voting Common Stock 2021-01-13 4 F 0 44845 48.90 D 250849 D Performance Restricted Stock Units 2021-01-13 4 M 0 100000 0.00 D 2029-02-11 Voting Common Stock 100000 200000 D Restricted Stock Units Voting Common Stock 22246 22246 D Restricted Stock Units Voting Common Stock 22500 22500 D Each performance restricted stock ("PRSU") unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. One hundred thousand of the PRSUs vested on January 13, 2021. The vesting of these PRSUs was contingent upon the Company's voting common stock attaining a closing price equal to or greater than $45.00 per share for at least twenty (20) consecutive trading days at any time prior to February 11, 2029. On January 13, 2021, the compensation committee of the Company's board of directors certified that this stock price condition had been satisfied and that these PRSUs were vested. One hundred thousand of the remaining PRSUs will vest upon each attainment of closing stock prices of $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 February 11, 2029. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's 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. /s/ Jonathan A. Greene, By Power of Attorney 2021-01-15