Edward Lawrence Sanders III - Jul 1, 2023 Form 4 Insider Report for SHORE BANCSHARES INC (SHBI)

Role
Director
Signature
/s/ Christy Lombardi, Attorney in Fact for E. Lawrence Sanders, III
Stock symbol
SHBI
Transactions as of
Jul 1, 2023
Transactions value $
$0
Form type
4
Date filed
7/5/2023, 09:28 PM
Previous filing
May 16, 2023
Next filing
Jul 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHBI Common Stock Award $0 +57.8K $0.00 57.8K Jul 1, 2023 Direct F1, F2
transaction SHBI Common Stock Award $0 +9.51K $0.00 9.51K Jul 1, 2023 By IRA F2, F3
transaction SHBI Common Stock Award $0 +5.39K $0.00 5.39K Jul 1, 2023 By Spouse's IRA F2, F4

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 $0.00 692 Jul 1, 2023 Common Stock 692 Direct F2, F5, F6, F7
* 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 24,833 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 4,084 shares of TCFC in connection with merger.
F4 The indicated shares were received in exchange for 2,313 shares of TCFC in connection with merger.
F5 Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
F6 The restricted stock units that vest on September 28, 2023.
F7 The indicated RSUs were received in exchange for 297 RSUs of TCFC in connection with merger.