Form 4 for SHBI SHORE BANCSHARES INC
Accepted 2023-07-05 00:00:00 ET · period of report 2023-07-01 · accession 0001104659-23-078365 · 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 | STONE JOSEPH V JR | Dir | A - Grant | $0.00 | +50.1K | 4,657 | New | $0 |
| D | 2023-07-05 | 2023-07-01 | SHBI | STONE JOSEPH V JR | Dir | A - Grant | $0.00 | +31.2K | 31.2K | New | $0 |
| D | 2023-07-05 | 2023-07-01 | SHBI | STONE JOSEPH V JR | 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 | 11,643 | $0.00 | 11,643 | I By Spouse's IRA | — | — | (F3) The indicated shares were received in exchange for 5,000 shares of TCFC in connection with merger. (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. |
| 2 | Common | Common Stock | 2023-07-01 | A | A | 31,164 | $0.00 | 31,164 | D By IRA-SEP | — | — | (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 13,383 shares of TCFC in connection with merger. (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. |
| 3 | Common | Common Stock | 2023-07-01 | A | A | 33,766 | $0.00 | 33,766 | I | — | — | (F5) The indicated shares were received in exchange for 14,500 shares of TCFC in connection with merger. (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. |
| 4 | Common | Common Stock | 2023-07-01 | A | A | 4,657 | $0.00 | 4,657 | I By Trust | — | — | (F4) The indicated shares were received in exchange for 2,000 shares of TCFC in connection with merger. (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. |
| 5 | Derivative | Restricted Stock Units | 2023-07-01 | A | A | 692 | $0.00 | 692 | D | — · — to — | 692 Common Stock | (F8) The indicated RSUs were received in exchange for 297 RSUs of TCFC in connection with merger. (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. (F6) Each restricted stock unit represents a contingent right to receive one share of SHBI common stock. (F7) The restricted stock units that vest on September 28, 2023. |