Sanders Edward Lawrence III 4

What Happened Edward Lawrence Sanders III, a director of Shore Bancshares Inc. (SHBI), was granted 1,855 derivative shares reported as an award on May 21, 2026. The units were reported at $0.00 (no cash paid) and are restricted stock units (RSUs) — each RSU represents a contingent right to receive one share of SHBI common stock. Per the filing footnotes, these 1,855 RSUs vest on May 21, 2027.

Key Details

• Transaction date: 2026-05-21; Filing date: 2026-05-26 (filed 5 days after the transaction).
• Transaction type/code: Award/Grant (derivative) — 1,855 RSUs at $0.00.
• Vesting: Footnotes state these 1,855 RSUs vest on May 21, 2027 (one-year vesting).
• Other footnotes: F1 notes an increase in beneficial ownership may reflect an exempt acquisition under the Shore Bancshares Dividend Reinvestment Plan (Rule 16a-11). F2 indicates some holdings are held by a trust for which Mr. Sanders is co-trustee. F3–F7 describe that each RSU equals one share and list additional RSU vesting schedules (e.g., 2,310 RSUs vesting July 29, 2026).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Timeliness: The Form 4 was filed five days after the transaction date; the typical reporting requirement for insiders is within two business days, so this filing was later than that standard interval.

Context This was an equity award (RSUs), a common form of compensation or ownership update for insiders. RSUs are contingent rights to receive shares upon vesting and do not represent immediately tradable shares until vested and delivered. The presence of a Dividend Reinvestment Plan note suggests other routine changes to beneficial ownership may also be reflected in the filing; neither the RSU grant nor DRIP activity alone should be read as a definitive buy/sell signal.