Zimmerly Ronald Len Jr. 4

4 · MIDDLEFIELD BANC CORP · Filed Jan 2, 2025

Form 4

Period: 2025-01-01

DirectorChief Executive Officer

Transactions

Holdings

Common Stock
(indirect: By IRA)
8,786
Conditional Stock Award
[F3][F4]
Exp: 2027-08-30→ Common Stock (6,708 underlying)
6,708
Conditional Stock Award
[F5]
Exercise: $27.40Exp: 2026-03-10→ Common Stock (3,722 underlying)
3,722
Conditional Stock Award
[F6]
Exercise: $28.60Exp: 2025-12-01→ Common Stock (3,788 underlying)
3,788

Footnotes (6)

[F1]Shares acquired under Director Compensation program for members of the Board of Directors of The Middlefield Banking Company.
[F2]Includes shares acquired under MBCN Dividend Reinvestment Plan
[F3]The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Zimmerly remains continuously employed by Middlefield as of each vesting date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. The details of the vesting conditions may be found in a Form 8K filing dated September 4, 2024.
[F4]Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
[F5]Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8K filing dated March 17, 2023.
[F6]The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Zimmerly remains continuously employed by Middlefield as of each vesting date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient.

Signature

/s/ Ronald L. Zimmerly, Jr. by Julie E. Shaw Power of Attorney|2025-01-02

Documents

1 file