Ronald Len Zimmerly Jr. - 01 Jan 2025 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: 01 Jan 2025
Net transactions value: +$7,798
Form type: 4
Filing time: 02 Jan 2025, 15:51:04 UTC
Previous filing: 03 Dec 2024
Next filing: 24 Jan 2025
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	$7,798	+278	+0.82%	$28.05	34,243	01 Jan 2025	Direct	F1, F2
holding	MBCN	Common Stock						8,786	01 Jan 2025	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
holding	MBCN	Conditional Stock Award						6,708	01 Jan 2025	Common Stock	6,708		Direct	F3, F4
holding	MBCN	Conditional Stock Award						3,722	01 Jan 2025	Common Stock	3,722	$27.40	Direct	F5
holding	MBCN	Conditional Stock Award						3,788	01 Jan 2025	Common Stock	3,788	$28.60	Direct	F6

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

Explanation of Responses:

Id	Content
F1	Shares acquired under Director Compensation program for members of the Board of Directors of The Middlefield Banking Company.
F2	Includes shares acquired under MBCN Dividend Reinvestment Plan
F3	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. The details of the vesting conditions may be found in a Form 8K filing dated September 4, 2024.
F4	Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F5	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.
F6	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.