Rebecca Middleton McDonald - 01 Jul 2023 Form 4 Insider Report for SHORE BANCSHARES INC (SHBI)

Role
Director
Signature
/s/ Christy Lombardi, Attorney in Fact for Rebecca M. McDonald
Issuer symbol
SHBI
Transactions as of
01 Jul 2023
Net transactions value
$0
Form type
4
Filing time
05 Jul 2023, 21:25:52 UTC
Previous filing
28 Dec 2022
Next filing
27 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHBI Common Stock Award $0 +52,479 $0.000000 52,479 01 Jul 2023 Direct F1, F2
transaction SHBI Common Stock Award $0 +16,300 $0.000000 16,300 01 Jul 2023 By Trustee for BMF Trust F2, F3
transaction SHBI Common Stock Award $0 +2,619 $0.000000 2,619 01 Jul 2023 By Custodian for KPM F2, F4
transaction SHBI Common Stock Award $0 +13,972 $0.000000 13,972 01 Jul 2023 By Trustee for EFD IR Trust F2, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SHBI Restricted Stock Units Award $0 +692 $0.000000 692 01 Jul 2023 Common Stock 692 Direct F2, F6, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 1, 2023, the company formerly known as The Community Financial Corporation ("TCFC") merged with and into Shore Bancshares Inc. (the "Issuer"). The indicated shares were received in exchange for 22,536 shares of TCFC in connection with merger.
F2 At the effective time of the merger, each share of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 of a share of the Issuer's common stock, with fractional shares settled in cash, pursuant to the Agreement and Plan of Merger, dated December 14, 2022, by and between TCFC and the Issuer.
F3 The indicated shares were received in exchange for 7,000 shares of TCFC in connection with merger.
F4 The indicated shares were received in exchange for 1,125 shares of TCFC in connection with merger.
F5 The indicated shares were received in exchange for 6,000 shares of TCFC in connection with merger.
F6 Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
F7 The restricted stock units that vest on September 28, 2023.
F8 The indicated RSUs were received in exchange for 297 RSUs of TCFC in connection with merger.