Ronald Len Zimmerly Jr. - 14 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
14 Jan 2025
Net transactions value
$0
Form type
4
Filing time
24 Jan 2025, 09:18:31 UTC
Previous filing
02 Jan 2025
Next filing
07 Aug 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 34,243 14 Jan 2025 Direct F1
holding MBCN Common Stock 8,786 14 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
transaction MBCN Conditional Stock Award Award +6,864 6,864 14 Jan 2025 Common Stock 6,864 Direct F3, F6
holding MBCN Conditional Stock Award 6,708 14 Jan 2025 Common Stock 6,708 Direct F2, F3
holding MBCN Conditional Stock Award 3,722 14 Jan 2025 Common Stock 3,722 $27.40 Direct F4
holding MBCN Conditional Stock Award 3,788 14 Jan 2025 Common Stock 3,788 $28.60 Direct F5
* 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 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.
F3 Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F4 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.
F5 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.
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. The details of the vesting conditions may be found in a Form 8K filing dated January 17, 2025.