Martindell Clarence Addis 4

What Happened

• Martindell Clarence Addis, Executive Vice President of Meridian Corp (MRBK), exercised stock options to acquire 4,000 shares on March 13, 2026, at a strike price of $9.50 per share for a total cash outlay of $38,000. The Form 4 also shows a prior grant of 12,000 derivative shares (awarded 11/17/2025 at $0) and a same-day reported disposition of 4,000 derivative shares at $0 on March 13, 2026.

Key Details

• Transaction(s):
  • 2026-03-13: Exercise/conversion (code M) — Acquired 4,000 shares at $9.50; total $38,000.
  • 2026-03-13: Exercise/conversion (code M) — Disposed 4,000 derivative shares at $0 (same day).
  • 2025-11-17: Grant/award (code A) — 12,000 derivative shares awarded at $0 (derivative).
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Footnotes of note:
  • F1: Filing was delayed due to delay obtaining a CIK for the reporting entity (the Form 4 was filed late).
  • F2: The awarded options vest 25% at grant date and then in three equal annual installments beginning one year after each grant.
  • F3: All figures adjusted for Meridian’s 2/28/2023 two-for-one stock split.
• Timeliness: Marked as late filing (per footnote F1); late filings can reduce prompt public transparency but do not change the reported transactions.

Context

• The primary activity was an option exercise (derivative transaction). The separate same-day disposition at $0 is recorded in the filing (such entries commonly reflect net settlement or tax withholding practices, though the Form 4 does not specify the reason).
• The 12,000-share award recorded on 11/17/2025 is a derivative grant subject to the vesting schedule in F2; awards/vests do not by themselves indicate a buy/sell market view.