Ruch, Jr. Charles E. 4

What Happened

• Charles E. Ruch Jr., EVP and Chief Credit Officer of Shore Bancshares (SHBI), had restricted stock units (RSUs) vest on March 7, 2026. 1,104 RSUs converted one-for-one into 1,104 shares of common stock. To satisfy tax withholding, 386 of those shares were withheld by the issuer, resulting in a net delivery of 718 shares to the reporting person. No cash was paid by Mr. Ruch; the shares converted at $0.00 (typical for RSU vesting).

Key Details

• Transaction date: March 7, 2026; Form 4 filed March 9, 2026 (filed timely).
• Reported entries: conversion of 1,104 RSUs to 1,104 shares (code M); 386 shares withheld for taxes (code F).
• Price/value: $0.00 per share for the conversion (RSUs vest, not a purchase); withholding resulted in no cash proceeds to the reporting person.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: F1/F3 clarify RSUs convert one-for-one into common stock; F2 confirms shares were withheld by the issuer to satisfy tax withholding (no open-market sale by the insider); F4 notes these RSUs vested on March 7, 2026; F5 lists remaining vesting schedule for related awards.

Context

• This was a routine RSU vesting event (an award converting to shares), not an open-market purchase or sale. The withholding of shares to cover taxes is common and does not indicate a sale by the insider. For investors, purchases are generally a stronger signal than routine vesting events.