Talal Tay - Dec 17, 2023 Form 4 Insider Report for SHORE BANCSHARES INC (SHBI)

Role: Chief Risk Officer
Signature: /s/ Christy Lombardi, Attorney in Fact for Talal Tay
Stock symbol: SHBI
Transactions as of: Dec 17, 2023
Transactions value $: $0
Form type: 4
Date filed: 12/19/2023, 03:56 PM
Previous filing: Aug 22, 2023
Next filing: Feb 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SHBI	Common Stock	Options Exercise		+389	+7.48%		5.59K	Dec 17, 2023	Direct	F1, F2
holding	SHBI	Common Stock						563	Dec 17, 2023	By TCFC ESOP

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	SHBI	Restricted Stock Units	Options Exercise	$0	-389	-5.37%	$0.00	6.85K	Dec 17, 2023	Common Stock	389		Direct	F3, F4, F5

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

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	The amount held reflects an increase in beneficial ownership resulting from an exempt acquisition of common stock under the Shore Bancshares Dividend Reinvestment Plan pursuant to Rule 16a-11.
F3	Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
F4	Restricted stock units vested December 17, 2023
F5	The restricted stock units vest as follows: 370 units on February 4, 2024, 235 units on February 10, 2024, 235 units on February 10, 2025, 247 units on March 6, 2024, 247 units on March 6, 2025, 249 units on March 6, 2026, 1,111 units on December 31, 2023, 706 units on December 31, 2024, 745 units on December 31, 2025, 1,352 units on July 1, 2024 and 1,353 units on July 1, 2025.