SHBI Director Michael Adams Receives 2,310 Shares

What Happened

• Michael (Brian) Adams, a director of Shore Bancshares, had 2,310 restricted stock units (derivative conversion, code M) convert into 2,310 shares of SHBI common stock on July 29, 2026. The Form 4 shows the acquisition/conversion and a corresponding disposition reported at $0 per share (no cash proceeds reported).
• No cash price or market sale is shown for these shares — the filing records the conversion/settlement rather than an open-market purchase or sale.

Key Details

• Transaction date: July 29, 2026; Form 4 filed July 31, 2026 (appears timely).
• Transaction code: M (exercise or conversion of derivative security — in this case restricted stock units converting to shares).
• Shares involved: 2,310 RSUs converted to 2,310 common shares; disposition reported at $0.00 (no sale proceeds shown).
• Footnotes: F1/F3 — RSUs convert one-for-one into common stock; F4 — these RSUs vested on July 29, 2026; F5 — remaining 1,855 units vest May 21, 2027; F2 — separate note about an increase from the dividend reinvestment plan under Rule 16a-11.
• Shares owned after transaction: not provided in the information supplied.

Context

• This was a conversion/vesting event (award settlement), not an open-market buy or sale by the insider. Form code M is commonly used when derivatives (like RSUs) convert into shares.
• The reported $0 disposition typically reflects an internal settlement/transfer (for example, withholding or plan settlement) rather than a cash sale, but the filing does not specify the exact reason. This type of transaction is routine for equity compensation and does not by itself signal a buy or sell decision.