Ruch, Jr. Charles E. 4
4 · SHORE BANCSHARES INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Shore Bancshares (SHBI) EVP Charles Ruch Receives RSU Vesting
What Happened Charles E. Ruch, Jr., EVP and Chief Credit Officer of Shore Bancshares (SHBI), had 1,354 restricted stock units (RSUs) vest on February 27, 2026. The RSUs converted one-for-one into common shares. The issuer withheld 454 of those shares to satisfy tax withholding obligations, leaving a net increase of 900 shares to Ruch’s beneficial ownership. The filing shows the RSU conversion (transaction code M) and the tax-withholding surrender (transaction code F); no open-market sale by the reporting person was reported.
Key Details
- Transaction date: February 27, 2026 (filed March 3, 2026 — timely under Rule 16b‑3 timing)
- Vesting/conversion: 1,354 RSUs converted into 1,354 common shares (M)
- Tax withholding: 454 shares withheld by issuer to cover taxes (F); no shares sold on market
- Net shares retained: 900 shares (1,354 vested − 454 withheld)
- Footnotes: RSUs convert one-for-one into common stock; RSUs vested on Feb 27, 2026; each RSU is a contingent right to one share
- Shares owned after transaction: not specified in the filing
Context This was an RSU vesting event (not an open-market buy or voluntary sale). The issuer’s withholding of shares to meet tax obligations is a routine administrative step and does not indicate a market sale by the insider. Transaction codes: M = conversion/exercise of a derivative (here, RSU conversion); F = payment of tax liability via share withholding.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-27+1,354→ 7,654 total - Tax Payment
Common Stock
[F2][F3]2026-02-27−454→ 7,200 total - Exercise/Conversion
Restricted Stock Units
[F4][F5][F6]2026-02-27−1,354→ 4,918 total→ Common Stock (1,354 underlying)
Footnotes (6)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F2]Shares withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of RSUs; no shares were sold by the reporting person.
- [F3]Reflects an increase in beneficial ownership resulting from an exempt acquisition of common stock under Shore Bancshares Dividend Reinvestment Plan pursuant to Rule 16a-11.
- [F4]Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
- [F5]These restricted stock units vested on February 27, 2026.
- [F6]The restricted stock units vest as follows; 1,104 units on March 7, 2026; 1,104 units on March 7, 2027; 1,355 units on February 27, 2027; and 1,355 units on February 27, 2028.