SHORE BANCSHARES (SHBI) CFO Cullum Exercises 4,161 RSUs

What Happened

• Charles S. Cullum, Chief Financial Officer of Shore Bancshares (SHBI), had 4,161 restricted stock units (RSUs) convert into 4,161 shares of common stock on July 29, 2026. Of those shares, 1,413 were withheld to satisfy tax withholding, resulting in a net receipt of 2,748 shares.
• The conversion is recorded as exercise/conversion of a derivative (Form 4 code M) and the withholding as payment of tax liability (code F). No cash purchase or open-market sale was reported; the shares arose from vested RSUs.

Key Details

• Transaction date: July 29, 2026; Form 4 filed July 31, 2026 (appears timely).
• Conversion price / reported value: $0.00 / N/A (RSUs converted one-for-one into common stock; no cash paid).
• Shares acquired on conversion: 4,161; shares withheld for taxes: 1,413; net shares received: 2,748.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: F1–F3 state RSUs convert one-for-one and these units vested on July 29, 2026. F4 lists remaining RSU vesting schedule (various tranches through 2029).
• Transaction codes: M = exercise/conversion of derivative; F = tax withholding.

Context

• This is a routine insider award/vesting event, not an open-market purchase or sale; withholding for taxes is common and does not by itself indicate buy/sell sentiment.
• For retail investors, vested RSUs increase an insider’s equity stake but are typically planned compensation. The filing shows conversion and tax settlement rather than a market sale.