Shore Bancshares (SHBI) Director Alan Hyatt Converts RSUs — 2,310

What Happened

• Alan J. Hyatt, a director of Shore Bancshares Inc. (SHBI), had 2,310 restricted stock units (RSUs) vest and convert into 2,310 shares on July 29, 2026 (reported as an exercise/conversion of a derivative, code M). The filing also records a simultaneous disposition of 2,310 shares at $0.00 (derivative), resulting in no net increase in shares held as reported. The conversion and disposition are tied to RSU vesting rather than an open-market purchase or voluntary sale.

Key Details

• Transaction date: July 29, 2026; Form 4 filed July 31, 2026 (appears timely).
• Conversion: 2,310 RSUs converted into 2,310 common shares (code M).
• Disposition: 2,310 shares disposed at $0.00 (reported as derivative disposition).
• Shares owned after transaction: No net increase reported (conversion and equal disposition cancel out in this filing).
• Footnotes of note:
  • F1/F3: Each RSU converts one-for-one into common stock and represents a contingent right to one share.
  • F4: These RSUs vested on July 29, 2026.
  • F5: Remaining RSUs vest (1,855 units on May 21, 2027).
• The filing does not state a cash purchase or market sale amount; the $0.00 disposition is consistent with shares being surrendered/withheld (commonly to satisfy tax withholding or similar obligations), but the form does not explicitly state the reason.

Context

• This was a conversion of vested RSUs, not an open-market buy or voluntary sale. Conversions and share-withholdings for taxes are routine executive compensation events and do not necessarily signal a buy/sell view of the company. The transaction was reported promptly on the Form 4.