Thomas G. Caldwell - Mar 1, 2022 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
President/Chief Executive Offi, Director
Signature
Thomas G. Caldwell by James R. Heslop, II Power of Attorney
Stock symbol
MBCN
Transactions as of
Mar 1, 2022
Transactions value $
$69,976
Form type
4
Date filed
3/3/2022, 04:25 PM
Previous filing
Jan 4, 2022
Next filing
Nov 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $126K +4.95K +26.68% $25.52 23.5K Mar 1, 2022 Direct F1
transaction MBCN Common Stock Tax liability -$56.2K -2.2K -9.38% $25.52 21.3K Mar 1, 2022 Direct
holding MBCN Common Stock 31.6K Mar 1, 2022 Direct F2, F3
holding MBCN Common Stock 536 Mar 1, 2022 Custodian for Children 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
holding MBCN Conditional Stock Award 5.29K Mar 1, 2022 Common Stock 5.29K $22.50 Direct F4
holding MBCN Conditional Stock Award 4.39K Mar 1, 2022 Common Stock 4.39K $26.09 Direct F5
* 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 Includes shares acquired under the MBCN Dividend Reinvestment Plan.
F3 Includes shares held jointly with spouse.
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.