Cheravitch Michael L 4
4 · MIDDLEFIELD BANC CORP · Filed Aug 7, 2025
Insider Transaction Report
Form 4
Cheravitch Michael L
EVP-Chief Banking Officer
Transactions
- Award
Common Stock
2025-08-06$27.11/sh+853$23,125→ 853 total - Tax Payment
Common Stock
2025-08-06$27.11/sh−248$6,723→ 605 total
Holdings
- 2,630
Conditional Stock Award
Exp: 2028-01-14→ Common Stock (2,630 underlying) - 1,708
Conditional Stock Award
Exp: 2027-09-06→ Common Stock (1,708 underlying) - 2,300
Conditional Stock Award
Exercise: $30.00Exp: 2025-12-31→ Common Stock (2,300 underlying)
Footnotes (5)
- [F1]The acquisition represents the vesting of restricted stock granted to the reporting person on August 6, 2024. The shares vested on the first anniversary of the grant date.
- [F2]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.
- [F3]Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- [F4]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 September 4, 2024.
- [F5]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.