Donald L. Stacy - Dec 1, 2022 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role: Treasurer/CFO
Signature: Donald L. Stacy by James R. Heslop, II Power of Attorney
Stock symbol: MBCN
Transactions as of: Dec 1, 2022
Transactions value $: $35,435
Form type: 4
Date filed: 12/5/2022, 03:13 PM
Previous filing: Mar 3, 2022
Next filing: Mar 1, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBCN	Common Stock	Award	$35.4K	+1.24K	+12.22%	$28.60	11.4K	Dec 1, 2022	Direct	F1, F2
holding	MBCN	Common Stock						4.04K	Dec 1, 2022	held in IRA
holding	MBCN	Common Stock						43.5	Dec 1, 2022	Direct	F2, F3

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						2.42K	Dec 1, 2022	Common Stock	2.42K	$24.80	Direct	F4
holding	MBCN	Conditional Stock Award						2.47K	Dec 1, 2022	Common Stock	2.47K	$22.50	Direct	F5
holding	MBCN	Conditional Stock Award						2.08K	Dec 1, 2022	Common Stock	2.08K	$26.09	Direct	F6

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

Explanation of Responses:

Id	Content
F1	Shares were acquired under a discretionary incentive award for the successful acquisition of Liberty Bancshares, Inc. Vesting was immediate.
F2	Includes shares acquired under MBCN Dividend Reinvestment Plan.
F3	held jointly with son
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, 2022.
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 25, 2021.
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 February 26, 2020.