Form 4 for SHBI SHORE BANCSHARES INC
Accepted 2023-07-05 00:00:00 ET · period of report 2023-07-01 · accession 0001104659-23-078363 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMI | 2023-07-05 | 2023-07-01 | SHBI | Sanders Edward Lawrence III | Dir | A - Grant | $0.00 | +14.9K | 5,386 | New | $0 |
| D | 2023-07-05 | 2023-07-01 | SHBI | Sanders Edward Lawrence III | Dir | A - Grant | $0.00 | +57.8K | 57.8K | New | $0 |
| D | 2023-07-05 | 2023-07-01 | SHBI | Sanders Edward Lawrence III | Dir | A - Grant | $0.00 | +692 | 692 | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-07-01 | A | A | 9,510 | $0.00 | 9,510 | I By Spouse's IRA | — | — | (F2) At the effective time of the merger, each share of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 of a share of the Issuer's common stock, with fractional shares settled in cash, pursuant to the Agreement and Plan of Merger, dated December 14, 2022, by and between TCFC and the Issuer. (F3) The indicated shares were received in exchange for 4,084 shares of TCFC in connection with merger. |
| 2 | Common | Common Stock | 2023-07-01 | A | A | 57,828 | $0.00 | 57,828 | D By IRA | — | — | (F2) At the effective time of the merger, each share of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 of a share of the Issuer's common stock, with fractional shares settled in cash, pursuant to the Agreement and Plan of Merger, dated December 14, 2022, by and between TCFC and the Issuer. (F1) On July 1, 2023, the company formerly known as The Community Financial Corporation ("TCFC") merged with and into Shore Bancshares Inc. (the "Issuer"). The indicated shares were received in exchange for 24,833 shares of TCFC in connection with merger. |
| 3 | Common | Common Stock | 2023-07-01 | A | A | 5,386 | $0.00 | 5,386 | I | — | — | (F2) At the effective time of the merger, each share of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 of a share of the Issuer's common stock, with fractional shares settled in cash, pursuant to the Agreement and Plan of Merger, dated December 14, 2022, by and between TCFC and the Issuer. (F4) The indicated shares were received in exchange for 2,313 shares of TCFC in connection with merger. |
| 4 | Derivative | Restricted Stock Units | 2023-07-01 | A | A | 692 | $0.00 | 692 | D | — · — to — | 692 Common Stock | (F2) At the effective time of the merger, each share of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 of a share of the Issuer's common stock, with fractional shares settled in cash, pursuant to the Agreement and Plan of Merger, dated December 14, 2022, by and between TCFC and the Issuer. (F7) The indicated RSUs were received in exchange for 297 RSUs of TCFC in connection with merger. (F5) Each restricted stock unit represents a contingent right to receive one share of SHBI common stock. (F6) The restricted stock units that vest on September 28, 2023. |