Courtney M. Erminio - Feb 23, 2022 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role: SVP/Risk Officer
Signature: Courtney M. Erminio by James R. Heslop, II Power of Attorney
Stock symbol: MBCN
Transactions as of: Feb 23, 2022
Transactions value $: $42,482
Form type: 4
Date filed: 2/25/2022, 12:54 PM
Previous filing: Jun 3, 2021
Next filing: Mar 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MBCN	Common Stock						1.46K	Feb 23, 2022	Direct	F1
holding	MBCN	Common Stock						151	Feb 23, 2022	Direct	F1, F2

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	MBCN	Conditional Stock Award	Award	$42.5K	+1.71K		$24.80	1.71K	Feb 23, 2022	Common Stock	1.71K	$24.80	Direct	F3
holding	MBCN	Conditional Stock Award						834	Feb 23, 2022	Common Stock	834	$22.50	Direct	F4
holding	MBCN	Conditional Stock Award						698	Feb 23, 2022	Common Stock	698	$26.09	Direct	F5
holding	MBCN	Conditional Stock Award						834	Feb 23, 2022	Common Stock	834	$21.22	Direct	F6

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

Explanation of Responses:

Id	Content
F1	Includes shares acquired under MBCN Dividend Reinvestment Plan.
F2	Includes shares held jointly with spouse.
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 25, 2022.
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 February 25, 2021.
F5	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.
F6	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.