Burke James M 4

What Happened
James M. Burke, President & CEO and a director of Shore Bancshares, had restricted stock units (RSUs) convert into 10,939 shares of SHBI common stock on March 6–7, 2026. Specifically, 6,260 RSUs converted on March 6 and 4,679 RSUs converted on March 7. To satisfy tax withholding obligations, the issuer withheld 2,225 shares (March 6) and 1,627 shares (March 7), leaving a net issuance to Burke of 7,087 shares. The transactions are reported as derivative conversions/exercises (code M) and share withholding for taxes (code F); the conversion/withholding were recorded at $0 per share (no cash exercise price).

Key Details

• Transaction dates: March 6, 2026 (6,260 RSUs → 6,260 shares; 2,225 shares withheld); March 7, 2026 (4,679 RSUs → 4,679 shares; 1,627 shares withheld).
• Reported prices/values: conversion and withholding recorded at $0 per share (RSUs convert one-for-one).
• Net shares received by Burke: 10,939 gross − 3,852 withheld = 7,087 net shares.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1–F5 confirm RSUs convert 1:1 and that the March 6 and March 7 RSUs vested on those dates; F2 notes shares were withheld to meet tax obligations (no open-market sale by the reporting person). F6 lists remaining scheduled RSU vesting dates and amounts through 2029.
• Filing timeliness: reported on Form 4 filed March 9, 2026 for transactions on March 6–7; the filing does not indicate a late report.

Context
This was not a market purchase or sale by Burke but the standard vesting/conversion of restricted stock units into common shares, with a portion surrendered to the issuer to cover tax withholding (a routine practice). No shares were sold on the open market as part of these transactions. The filing also discloses additional RSU tranches scheduled to vest in 2027–2029 per the footnotes.