Ronald Len Zimmerly Jr. - 30 Aug 2024 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
Chief Executive Officer, Director
Signature
/s/ Ronald L. Zimmerly, Jr. by Julie E. Shaw Power of Attorney
Issuer symbol
MBCN
Transactions as of
30 Aug 2024
Net transactions value
$0
Form type
4
Filing time
04 Sep 2024, 19:42:39 UTC
Previous filing
01 Jul 2024
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
holding MBCN Common Stock 31,077 30 Aug 2024 Direct
holding MBCN Common Stock 8,786 30 Aug 2024 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
transaction MBCN Conditional Stock Award Award +6,708 6,708 30 Aug 2024 Common Stock 6,708 Direct F1, F2
holding MBCN Conditional Stock Award 3,722 30 Aug 2024 Common Stock 3,722 $27.40 Direct F3
holding MBCN Conditional Stock Award 7,576 30 Aug 2024 Common Stock 7,576 $28.60 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
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 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 recipent.