STEVENS DONNA J. 4

What Happened

• Donna J. Stevens, Chief Operating Officer of Shore Bancshares, had 1,470 restricted stock units (RSUs) convert into 1,470 shares of common stock upon vesting on February 27, 2026. Of those shares, 496 were withheld by the issuer to satisfy tax withholding obligations, resulting in a net issuance to Stevens of 974 shares. No cash proceeds were reported from any sale of the shares.

Key Details

• Transaction date: February 27, 2026 (Form 4 filed March 3, 2026 — timely within the two-business-day requirement).
• Reported actions/codes: M (exercise/conversion of derivative — RSU conversion) and F (payment/tax withholding).
• Shares: 1,470 RSUs vested → 1,470 shares issued; 496 shares withheld for taxes; net 974 shares retained by the insider.
• Price/value: $0.00 per share reported for the withholding; RSU conversion reflects no cash exercise price.
• Shares owned after transaction: the filing does not state a single total ownership number; it notes holdings include 1,762 shares acquired under the company ESPP as of March 3, 2026.
• Notable footnotes: RSUs convert one-for-one into common stock and vested on Feb 27, 2026; the withheld shares were surrendered to cover tax obligations (no open-market sale by the insider).

Context

• This was an RSU vesting event (an award converting to stock), not an open-market purchase or sale. The withholding of shares to cover taxes is routine and does not indicate the insider sold shares on the market. Such award-based issuances are common compensation events and are generally considered administrative rather than a directional insider bet.