MainStreet director receives stock grant in fees swap

Higgins Joan Morgan reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Higgins Joan Morgan reported acquisition or exercise transactions in this Form 4 filing.

MainStreet Bancshares, Inc. director Joan Morgan Higgins received an equity grant of 973 shares of common stock on July 1, 2026. The award was valued at $24.69 per share and was granted in lieu of cash director fees under the company’s existing equity incentive plan.

Following this grant, Higgins directly holds 1,575 shares of MainStreet Bancshares common stock. This is a compensation-related grant, not an open‑market purchase, and reflects the director’s election to take board fees in restricted stock rather than cash.

Insider Trade Summary

Grant/Award: 973 shares

Grant/Award 1 txn

Insider Higgins Joan Morgan

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	973	$24.69	$24K

Holdings After Transaction: Common Stock — 1,575 shares (Direct)

Footnotes (1)

1. F1. In lieu of cash fees, directors may elect to receive an equivalent value of equity in restricted stock awards under the existing equity incentive plan. This amount reflects the fair value of restricted stock awards received in lieu of cash based upon the stock price on the date of grant.

Key Figures

Restricted stock grant: 973 shares Grant valuation price: $24.69 per share Shares held after grant: 1,575 shares +1 more

4 metrics

Restricted stock grant 973 shares Award of common stock on July 1, 2026

Grant valuation price $24.69 per share Fair value on grant date used for director fees

Shares held after grant 1,575 shares Total direct holdings following transaction

Net direction of activity 1 acquisition transaction Form 4 transaction summary shows only acquisitions

Key Terms

restricted stock awards, equity incentive plan, fair value, director fees

4 terms

restricted stock awards financial

"directors may elect to receive an equivalent value of equity in restricted stock awards under the existing equity incentive plan"

Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.

equity incentive plan financial

"restricted stock awards under the existing equity incentive plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

fair value financial

"This amount reflects the fair value of restricted stock awards received in lieu of cash"

Fair value is an estimate of what an asset or company is really worth today, derived from expected future earnings, comparable market prices and other relevant facts—like agreeing a price for a used car after checking mileage, condition and similar listings. Investors use fair value to decide whether a stock looks overpriced or undervalued, which helps guide buy, hold or sell decisions and sets expectations for potential returns and risk.

director fees financial

"directors may elect to receive an equivalent value of equity in restricted stock awards in lieu of cash fees"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did MainStreet Bancshares (MNSB) report for Joan Morgan Higgins?

Joan Morgan Higgins received 973 shares of MainStreet Bancshares common stock as a grant. The shares were issued as restricted stock in lieu of cash director fees under the company’s equity incentive plan, reflecting routine, compensation-related equity awards rather than an open-market purchase.

At what price was the MainStreet Bancshares (MNSB) stock grant to Joan Morgan Higgins valued?

The restricted stock grant to Joan Morgan Higgins was valued at $24.69 per share. This value reflects the fair value of the shares on the grant date, used to convert her elected cash director fees into an equivalent amount of equity compensation.

How many MainStreet Bancshares (MNSB) shares does Joan Morgan Higgins hold after this Form 4 transaction?

After the July 1, 2026 grant, Joan Morgan Higgins directly holds 1,575 shares of MainStreet Bancshares common stock. This total includes the 973 restricted shares received in lieu of cash fees, combined with her prior directly held share balance reported in the filing.

Was the MainStreet Bancshares (MNSB) Form 4 transaction an open-market stock purchase?

No, the transaction was not an open-market purchase. The Form 4 shows a grant coded “A,” representing 973 restricted shares awarded as compensation in lieu of cash director fees under an existing equity incentive plan, rather than shares bought in the market.

Why did MainStreet Bancshares (MNSB) grant restricted stock to its director instead of paying cash fees?

MainStreet Bancshares allows directors to elect equity instead of cash fees. Higgins chose to receive the fair value of her director fees in restricted stock awards, aligning compensation with company equity performance while reducing immediate cash payments by the company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 09:01 AM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Higgins Joan Morgan

(Last) (First) (Middle)

10089 FAIRFAX BLVD

(Street)

FAIRFAX VIRGINIA 22030

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MainStreet Bancshares, Inc. [ MNSB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Director - MainStreet Bank

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2026		A		973(1)	A	$24.69	1,575	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. In lieu of cash fees, directors may elect to receive an equivalent value of equity in restricted stock awards under the existing equity incentive plan. This amount reflects the fair value of restricted stock awards received in lieu of cash based upon the stock price on the date of grant.

	/s/ Richard A. Vari, attorney-in-fact	07/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)