MICHAEL RANTTILA - 23 Feb 2024 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
EVP/CFO
Signature
/s/ Michael C. Ranttila by Julie E. Shaw Power of Attorney
Issuer symbol
MBCN
Transactions as of
23 Feb 2024
Net transactions value
+$26,803
Form type
4
Filing time
29 Feb 2024, 16:40:20 UTC
Previous filing
17 Mar 2023
Next filing
04 Sep 2024
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 $45,247 +1,862 +64% $24.30 4,794 23 Feb 2024 Direct F1, F2
transaction MBCN Common Stock Tax liability $18,444 -759 -16% $24.30 4,035 23 Feb 2024 Direct F2
holding MBCN Common Stock 2 23 Feb 2024 as Custodian for Grandson

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 2,846 23 Feb 2024 Common Stock 2,846 $27.40 Direct F3
holding MBCN Conditional Stock Award 2,016 23 Feb 2024 Common Stock 2,016 $24.80 Direct F4
* 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 23, 2024, 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 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 8K 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.