Michael L. Allen - 25 Feb 2023 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
25 Feb 2023
Net transactions value
+$17,197
Form type
4
Filing time
01 Mar 2023, 09:45:38 UTC
Previous filing
03 Mar 2022
Next filing
17 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 $28,826 +994 +41% $29.00 3,434 25 Feb 2023 Direct F1
transaction MBCN Common Stock Tax liability $11,629 -401 -12% $29.00 3,033 25 Feb 2023 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 25 Feb 2023 Common Stock 2,116 $24.80 Direct F2
holding MBCN Conditional Stock Award 2,276 25 Feb 2023 Common Stock 2,276 $22.50 Direct F3
* 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 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.