Shore Bancshares Adopts Deferred Comp Plan; Directors Excluded After 2026

What Happened
Shore Bancshares, Inc. announced on Sept. 30, 2026 that its Board adopted a Deferred Compensation Plan for non‑employee directors (intended to comply with Section 409A of the Internal Revenue Code). The Plan lets eligible directors elect annually to defer a percentage of their director fees and vested equity awards into bookkeeping accounts credited as equivalent shares or deemed invested shares. The Board simultaneously amended and restated the company’s Deferred Compensation Plan to eliminate participation by non‑employee directors after the 2026 plan year. The 8‑K was filed Oct. 1, 2026 and is signed by CEO James M. Burke.

Key Details

• Adoption and amendment date: September 30, 2026; 8‑K filed October 1, 2026.
• Deferrals allowed: annual elections to defer a specified percentage of director fees and vested equity awards.
• Vesting: participants are 100% vested in their own elective deferrals and any earnings thereon.
• Change in participation: non‑employee directors will no longer participate after the 2026 plan year; full plan text is included as Exhibits 10.1 (new plan) and 10.2 (amended & restated).

Why It Matters
This filing changes how non‑employee directors may receive and defer compensation (cash and equity), and it sets a firm end to director participation after 2026. Investors should review the attached plan documents for details on timing, tax treatment (Section 409A compliance), and how deferrals are recorded, since those details govern the company’s reported compensation obligations and related disclosures.