Michael L. Allen - 23 Feb 2022 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
Issuer symbol: MBCN
Transactions as of: 23 Feb 2022
Net transactions value: +$52,477
Form type: 4
Filing time: 25 Feb 2022, 13:08:07 UTC
Previous filing: 29 Nov 2021
Next filing: 03 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MBCN	Common Stock						1,000	23 Feb 2022	Direct

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	$52,477	+2,116		$24.80	2,116	23 Feb 2022	Common Stock	2,116	$24.80	Direct	F1
holding	MBCN	Conditional Stock Award						2,276	23 Feb 2022	Common Stock	2,276	$22.50	Direct	F2
holding	MBCN	Conditional Stock Award						1,915	23 Feb 2022	Common Stock	1,915	$26.09	Direct	F3
holding	MBCN	Conditional Stock Award						2,296	23 Feb 2022	Common Stock	2,296	$21.22	Direct	F4

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

Explanation of Responses:

Id	Content
F1	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.
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.