MICHAEL RANTTILA - 23 Feb 2022 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role: Bank Chief Financial Officer
Signature: Michael C. Ranttila by James R. Heslop, II Power of Attorney
Issuer symbol: MBCN
Transactions as of: 23 Feb 2022
Net transactions value: +$49,997
Form type: 4
Filing time: 25 Feb 2022, 13:18:07 UTC
Previous filing: 03 Jun 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						1,132	23 Feb 2022	Direct	F1
holding	MBCN	Common Stock						2	23 Feb 2022	as Custodian for Grandson

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	$49,997	+2,016		$24.80	2,016	23 Feb 2022	Common Stock	2,016	$24.80	Direct	F2
holding	MBCN	Conditional Stock Award						1,765	23 Feb 2022	Common Stock	1,765	$22.50	Direct	F3
holding	MBCN	Conditional Stock Award						891	23 Feb 2022	Common Stock	891	$26.09	Direct	F4
holding	MBCN	Conditional Stock Award						658	23 Feb 2022	Common Stock	658	$21.22	Direct	F5

* 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	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.
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, 2021.
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 26, 2020.
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 March 5, 2019.