Donald L. Stacy - Feb 25, 2023 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
Feb 25, 2023
Transactions value $
$17,342
Form type
4
Date filed
3/1/2023, 09:25 AM
Previous filing
Dec 5, 2022
Next filing
May 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $31.3K +1.08K +9.48% $29.00 12.5K Feb 25, 2023 Direct F1, F2
transaction MBCN Common Stock Tax liability -$13.9K -480 -3.85% $29.00 12K Feb 25, 2023 Direct F2
holding MBCN Common Stock 4.04K Feb 25, 2023 held in IRA
holding MBCN Common Stock 43.5 Feb 25, 2023 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 Feb 25, 2023 Common Stock 2.42K $24.80 Direct F4
holding MBCN Conditional Stock Award 2.47K Feb 25, 2023 Common Stock 2.47K $22.50 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 February 25, 2020, which vested on the third anniversary of their grant date based upon the Company's total shareholder return.
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.