Michael L. Cheravitch - 14 Jan 2025 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Shares	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MBCN	Conditional Stock Award	Award	+2,630	2,630	14 Jan 2025	Common Stock	2,630		Direct	F1, F2
holding	MBCN	Conditional Stock Award			2,561	14 Jan 2025	Common Stock	2,561		Direct	F2, F3
holding	MBCN	Conditional Stock Award			2,300	14 Jan 2025	Common Stock	2,300	$30.00	Direct	F4

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

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. The vesting details may be found on a Form 8-K filed January 17, 2025.
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 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.
F4	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.