Courtney M. Erminio - Feb 25, 2023 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
SVP/Risk Officer
Signature
Courtney M. Erminio by James R. Heslop, II Power of Attorney
Stock symbol
MBCN
Transactions as of
Feb 25, 2023
Transactions value $
$6,902
Form type
4
Date filed
3/1/2023, 09:56 AM
Previous filing
Mar 3, 2022
Next filing
Mar 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $10.5K +362 +17.84% $29.00 2.39K Feb 25, 2023 Direct F1, F2
transaction MBCN Common Stock Tax liability -$3.6K -124 -5.19% $29.00 2.27K Feb 25, 2023 Direct F2
holding MBCN Common Stock 151 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 1.71K Feb 25, 2023 Common Stock 1.71K $24.80 Direct F4
holding MBCN Conditional Stock Award 834 Feb 25, 2023 Common Stock 834 $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 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, 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.