Courtney M. Erminio - Feb 23, 2024 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
EVP/Chief Risk Officer
Signature
/s/ Courtney M. Erminio by Julie E. Shaw Power of Attorney
Stock symbol
MBCN
Transactions as of
Feb 23, 2024
Transactions value $
$15,576
Form type
4
Date filed
2/29/2024, 05:12 PM
Previous filing
Mar 17, 2023
Next filing
Sep 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $25.3K +1.04K +45.96% $24.30 3.31K Feb 23, 2024 Direct F1, F2
transaction MBCN Common Stock Tax liability -$9.74K -401 -12.12% $24.30 2.91K Feb 23, 2024 Direct F2
holding MBCN Common Stock 151 Feb 23, 2024 Direct 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
holding MBCN Conditional Stock Award 1.63K Feb 23, 2024 Common Stock 1.63K $27.40 Direct F3
holding MBCN Conditional Stock Award 1.71K Feb 23, 2024 Common Stock 1.71K $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.