Cheravitch Michael L 4
4 · MIDDLEFIELD BANC CORP · Filed Jan 23, 2025
Insider Transaction Report
Form 4
Cheravitch Michael L
EVP-Chief Banking Officer
Transactions
- Award
Conditional Stock Award
2025-01-14+2,630→ 2,630 totalExp: 2028-01-14→ Common Stock (2,630 underlying)
Holdings
- 2,561
Conditional Stock Award
Exp: 2027-09-06→ Common Stock (2,561 underlying) - 2,300
Conditional Stock Award
Exercise: $30.00Exp: 2025-12-31→ Common Stock (2,300 underlying)
Footnotes (4)
- [F1]The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Cheravitch 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 vesting details may be found on a Form 8-K filed January 17, 2025.
- [F2]Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- [F3]The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Cheravitch 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.
- [F4]The award represents a grant of restricted stock which vests on December 31, 2025, if the executive's service continues through that date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient.