Courtney M. Erminio - Mar 10, 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: Mar 10, 2023
Transactions value $: $44,607
Form type: 4
Date filed: 3/17/2023, 10:28 AM
Previous filing: Mar 1, 2023
Next filing: Feb 29, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MBCN	Common Stock						2.27K	Mar 10, 2023	Direct	F1
holding	MBCN	Common Stock						151	Mar 10, 2023	Direct	F1, 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
transaction	MBCN	Conditional Stock Award	Award	$44.6K	+1.63K		$27.40	1.63K	Mar 10, 2023	Common Stock	1.63K	$27.40	Direct	F3
holding	MBCN	Conditional Stock Award						1.71K	Mar 10, 2023	Common Stock	1.71K	$24.80	Direct	F4
holding	MBCN	Conditional Stock Award						834	Mar 10, 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	Includes shares acquired under MBCN Dividend Reinvestment Plan.
F2	Includes shares held jointly with spouse.
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 March 17, 2023.
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.