Cheravitch Michael L 4

What Happened
Michael L. Cheravitch, EVP & Chief Banking Officer of Middlefield Banc Corp. (MBCN), reported a disposition to the issuer of 15,691 shares on March 2, 2026. The Form 4 lists the transaction as a disposition (code D) and does not state a per‑share price or total value. The filing notes the shares were disposed pursuant to the Agreement and Plan of Merger between Middlefield and Farmers National Banc Corp., effective March 2, 2026.

Key Details

• Transaction date: 2026-03-02 (reported on same date; filing appears timely).
• Transaction type/code: Disposition to issuer (D).
• Shares disposed: 15,691. Price: N/A (not specified on the Form 4).
• Footnote: Disposition pursuant to the Agreement and Plan of Merger dated October 22, 2025 (merger of Middlefield into Farmers).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Filing timeliness: Form filed on 2026-03-02 (same day as transaction), so no late‑filing indication in this record.

Context
A disposition "to the issuer" in a Form 4 often reflects shares surrendered or converted as part of a corporate transaction (here, the merger). Because this was merger-related, it is a transaction driven by corporate action rather than an independent sell decision by the insider. For the specific merger consideration (cash or stock and the per‑share value), see the Agreement and Plan of Merger and related SEC filings (e.g., the merger 8‑K or proxy) for details.