Shore Bancshares (SHBI) Form 4: Insider Receives RSUs, No Sales

Rhea-AI Filing Summary

Form 4 filing for Shore Bancshares Inc. (SHBI) dated 07/30/25 discloses insider activity by Director Michael Brian Adams.

• Derivative securities: Adams was granted 2,310 Restricted Stock Units (RSUs) on 07/29/25 (Code A). Each RSU converts to one common share and will vest on 07/29/26.
• Non-derivative holdings: Post-transaction ownership totals 34,912 directly held shares and 9,841 shares held indirectly via a Roth IRA. The increase reflects shares acquired under the company’s Dividend Reinvestment Plan (Rule 16a-11), an exempt transaction.
• No sales or option exercises were reported; all reported activity relates to acquisitions or routine DRIP accumulation.

The filing signals continued equity alignment by a board member but involves a modest number of shares relative to SHBI’s float.

Positive

• Director acquired 2,310 RSUs, increasing equity stake and demonstrating continued alignment with shareholders.
• No insider sales reported; all disclosed activity reflects additions to ownership, viewed as a modestly supportive sign.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received 2,310 RSUs; direct holdings now 44.8k shares—small, but insider is accumulating.

The award is routine under the company’s director compensation plan and comprises <≈0.03% of SHBI’s 7.4 m share float. Although amounts are modest, insider net buying with no sales can be viewed as a marginally supportive signal. Because it stems from scheduled grants and DRIP, the market impact is likely limited. No financial guidance or operational data are provided, so valuation implications are minimal.

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).

1. Name and Address of Reporting Person^*

Adams Michael Brian

(Last) (First) (Middle)

18 E DOVER STREET

(Street)

EASTON MD 21601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SHORE BANCSHARES INC [ SHBI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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

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

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

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								34,912(1)	D
Common Stock								9,841(1)	I	By Roth IRA

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
Restricted Stock Units	(2)	07/29/2025		A		2,310		(3)	(4)	Common Stock	2,310	$0	2,310	D

Explanation of Responses:

1. The amount held reflects an increase in beneficial ownership resulting from an exempt acquisition of common stock under the Shore Bancshares Dividend Reinvestment Plan pursuant to Rule 16a-11.

2. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.

3. Represents restricted stock units that vest on July 29, 2026, the first anniversary of the award.

4. Restricted stock units vest as follows, 2,310 shares on July 29, 2026.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Michael Brian Adams	07/30/2025
	** 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.

FAQ

How many Shore Bancshares (SHBI) shares does Director Michael Brian Adams now own?

After the reported transactions, he holds 34,912 common shares directly and 9,841 shares indirectly via a Roth IRA.

What was the size and vesting schedule of the new RSU grant to the SHBI director?

He received 2,310 Restricted Stock Units that vest on July 29, 2026.

Were any SHBI shares sold by the insider in this Form 4?

No. The filing reports only acquisitions through an RSU award and the Dividend Reinvestment Plan; no sales occurred.

Is the transaction considered exempt under SEC rules?

Yes, the DRIP acquisition is exempt under Rule 16a-11, and RSU awards are routine director compensation.

Does this insider activity significantly affect SHBI’s share count?

The 2,310-share grant represents ≈0.03% of the outstanding shares, so the dilution impact is immaterial.