Michael L. Cheravitch - 17 Dec 2025 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
Issuer symbol
MBCN
Transactions as of
17 Dec 2025
Net transactions value
+$136,530
Form type
4
Filing time
18 Dec 2025, 16:47:05 UTC
Previous filing
07 Aug 2025
Next filing
05 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Cheravitch Michael L EVP-Chief Banking Officer 15985 EAST HIGH STREET, MIDDLEFIELD /s/ Michael L. Cheravitch by Julie E. Shaw Power of Attorney 18 Dec 2025 0002007962

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $192,548 +5,204 +860% $37.00 5,809 17 Dec 2025 Direct F1
transaction MBCN Common Stock Tax liability $56,018 -1,514 -26% $37.00 4,295 17 Dec 2025 Direct

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 2,300 17 Dec 2025 Common Stock 2,300 $30.00 Direct F3
holding MBCN Conditional Stock Award 1,708 17 Dec 2025 Common Stock 1,708 Direct F2, F5
holding MBCN Conditional Stock Award 2,630 17 Dec 2025 Common Stock 2,630 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Amendment of performance share unit award agreement resulting in acceleration of performance share unit grants. The details of the accelerated performance share unit grants may be found in a Form 8-K filed December 12, 2025.
F2 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 September 4, 2024.
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.
F4 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.
F5 Each restricted stock unit represents the right to receive, at settlement, one share of common stock.