Ronald L. Zimmerly Jr. - Jul 3, 2023 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role: President, Director
Signature: Ronald L. Zimmerly, Jr. by Julie E. Shaw Power of Attorney
Stock symbol: MBCN
Transactions as of: Jul 3, 2023
Transactions value $: $7,799
Form type: 4
Date filed: 7/3/2023, 04:16 PM
Previous filing: May 1, 2023
Next filing: Jan 8, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBCN	Common Stock	Award	$7.8K	+291	+0.92%	$26.80	32K	Jul 3, 2023	Direct	F1
holding	MBCN	Common Stock						2.01K	Jul 3, 2023	held in IRA

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						3.72K	Jul 3, 2023	Common Stock	3.72K	$27.40	Direct	F2
holding	MBCN	Conditional Stock Award						11.4K	Jul 3, 2023	Common Stock	11.4K	$28.60	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Shares acquired under Director Compensation program for members of the Board of Directors of The Middlefield Banking Company.
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 March 17, 2023.
F3	The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Zimmerly remains continuously employed by Middlefield as of each vesting date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient.