Michael L. Allen - Nov 26, 2021 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role: EVP - Chief Banking Officer
Signature: Michael L. Allen by James R. Heslop, II Power of Attorney
Stock symbol: MBCN
Transactions as of: Nov 26, 2021
Transactions value $: $25,450
Form type: 4
Date filed: 11/29/2021, 01:03 PM
Next filing: Feb 25, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBCN	Common Stock	Award	$25.5K	+1K		$25.45	1K	Nov 26, 2021	Direct	F1

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
holding	MBCN	Conditional Stock Award						2.28K	Nov 26, 2021	Common Stock	2.28K	$22.50	Direct	F2
holding	MBCN	Conditional Stock Award						1.92K	Nov 26, 2021	Common Stock	1.92K	$26.09	Direct	F3
holding	MBCN	Conditional Stock Award						2.3K	Nov 26, 2021	Common Stock	2.3K	$21.22	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Acquisition represents the vesting of shares granted to the reporting person on November 26, 2018, which vested on the third anniversary of their grant dated based upon the continued employment of the reporting person.
F2	Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8-K filing dated February 25, 2021.
F3	Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8-K filing dated February 26, 2020.
F4	Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8-K filing dated March 5, 2019.