Michael L. Cheravitch - Sep 6, 2024 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
EVP-Chief Banking Officer
Signature
/s/ Michael L. Cheravitch by Julie E. Shaw Power of Attorney
Stock symbol
MBCN
Transactions as of
Sep 6, 2024
Transactions value $
$0
Form type
4
Date filed
9/10/2024, 04:01 PM
Previous filing
Feb 14, 2024

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 +2.56K 2.56K Sep 6, 2024 Common Stock 2.56K Direct F1, F2
holding MBCN Conditional Stock Award 2.3K Sep 6, 2024 Common Stock 2.3K $30.00 Direct F3
* 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. Cheravitch 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 The award represents a grant of restricted stock which vests on December 31, 2025, if the executive's service continues through that date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient.