Courtney M. Erminio - 06 Sep 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
Issuer symbol: MBCN
Transactions as of: 06 Sep 2024
Net transactions value: $0
Form type: 4
Filing time: 10 Sep 2024, 16:32:06 UTC
Previous filing: 29 Feb 2024
Next filing: 23 Jan 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MBCN	Common Stock						2,908	06 Sep 2024	Direct	F1
holding	MBCN	Common Stock						151	06 Sep 2024	Direct	F1, 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
transaction	MBCN	Conditional Stock Award	Award		+2,561			2,561	06 Sep 2024	Common Stock	2,561		Direct	F4, F5
holding	MBCN	Conditional Stock Award						1,628	06 Sep 2024	Common Stock	1,628	$27.40	Direct	F3
holding	MBCN	Conditional Stock Award						1,713	06 Sep 2024	Common Stock	1,713	$24.80	Direct	F6

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

Explanation of Responses:

Id	Content
F1	Includes shares acquired under MBCN Dividend Reinvestment Plan
F2	Includes shares held jointly with spouse.
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 Mrs. Erminio 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.
F5	Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F6	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.