Erminio Courtney M 4

4 · MIDDLEFIELD BANC CORP · Filed Mar 3, 2025

Form 4

Period: 2025-02-23

EVP/Chief Risk Officer

Transactions

Holdings

Common Stock
150.525
Conditional Stock Award
Exercise: $27.40Exp: 2026-03-10→ Common Stock (1,628 underlying)
1,628
Conditional Stock Award
Exp: 2027-09-06→ Common Stock (2,561 underlying)
2,561
Conditional Stock Award
Exp: 2028-01-14→ Common Stock (2,828 underlying)
2,828

Footnotes (7)

[F1]Acquisition represents the vesting of performance shares awarded to the reporting person on February 23, 2022, which vested on the third anniversary of their grant date based upon the Company's total shareholder return.
[F2]Includes shares acquired under MBCN Dividend Reinvestment Plan
[F3]Includes shares held jointly with spouse.
[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 Mrs. Erminio 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.
[F7]The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mrs. Erminio 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 8-K dated January 17, 2025.

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