Michael L. Allen - 01 Mar 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
01 Mar 2022
Net transactions value
+$36,749
Form type
4
Filing time
03 Mar 2022, 14:08:54 UTC
Previous filing
25 Feb 2022
Next filing
01 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $53,720 +2,105 +210% $25.52 3,105 01 Mar 2022 Direct F1
transaction MBCN Common Stock Tax liability $16,971 -665 -21% $25.52 2,440 01 Mar 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
holding MBCN Conditional Stock Award 2,116 01 Mar 2022 Common Stock 2,116 $24.80 Direct F2
holding MBCN Conditional Stock Award 2,276 01 Mar 2022 Common Stock 2,276 $22.50 Direct F3
holding MBCN Conditional Stock Award 1,915 01 Mar 2022 Common Stock 1,915 $26.09 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 performance shares granted to the reporting person on March 1, 2019, which vested on the third anniversary of their grant date based upon the Company's total shareholder return.
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.