Lombardi Christy 4

What Happened

• Christy Lombardi, EVP & Chief Human Resources Officer of Shore Bancshares (SHBI), had restricted stock units (RSUs) vest and convert into common shares on March 6 and March 7, 2026. A total of 1,360 RSUs vested on March 6 and 1,325 RSUs vested on March 7 (2,685 shares total).
• To satisfy tax withholding, the issuer withheld 489 shares on March 6 and 465 shares on March 7 (954 shares withheld). That leaves a net issuance to Lombardi of 2,685 − 954 = 1,731 shares. The filing reports $0 for exercise/withholding entries because RSUs convert on a one-for-one basis and no cash exercise price applied.

Key Details

• Transaction dates: March 6, 2026 (1,360 RSUs) and March 7, 2026 (1,325 RSUs).
• Reported prices/values: $0 reported for conversion/withholding (standard for RSU vesting; market value not shown on the form).
• Shares withheld for taxes: 489 (Mar 6) + 465 (Mar 7) = 954 shares; no shares were sold on the open market to cover taxes (footnote F2).
• Net new shares received by Lombardi: 1,731 shares (2,685 vested − 954 withheld).
• Shares owned after transaction: not specified in the provided excerpt. The filing notes 204 shares were acquired under the company’s Employee Stock Purchase Plan as of Mar 9, 2026 (footnote F3).
• Notable footnotes: F1/F4 clarify RSUs convert 1:1 into common stock; F5/F6 confirm vesting dates; F7 provides future RSU vesting schedule for remaining awards.
• Filing timeliness: Form filed March 9, 2026 for March 6–7 transactions — appears timely (no late filing flag).

Context

• These entries are RSU vesting/conversion transactions (derivative code M) with share withholding for tax obligations (code F). This is a routine compensation event rather than an open‑market purchase or sale by the insider. Withholding shares to satisfy taxes is common and does not indicate the insider sold shares for liquidity on the open market.