[Form 4] Shore Bancshares Inc Insider Trading Activity

Rhea-AI Filing Summary

On 07/29/2025, Shore Bancshares (SHBI) director John A. Lamon filed a Form 4 reporting two insider acquisitions.

• 62,132 common shares now held after an exempt dividend reinvestment under Rule 16a-11. No price was reported.
• Grant of 2,310 Restricted Stock Units (RSUs) at $0 cost (transaction code “A”). Each unit converts 1-for-1 into common stock and vests on 07/29/2026.

Post-transaction holdings: 62,132 directly owned shares plus 2,310 RSUs. The filing contains no sales, option exercises, or changes to derivative positions and provides no operational or financial guidance. It is a routine disclosure of equity awards and dividend reinvestment, offering limited insight into SHBI’s near-term fundamentals.

Insights

Financial Analyst

TL;DR: Minor equity award and DRIP increase insider alignment; impact on valuation negligible.

The 2,310-share RSU grant and DRIP acquisition raise John Lamon’s direct stake to roughly 62 k shares—an immaterial percentage of SHBI’s 12 m share float. While insider accumulation is directionally positive, the size and routine nature mean little predictive power for earnings or capital strategy. No cash outlay or market purchase occurred, so there is no immediate signal regarding stock undervaluation. I view the filing as non-impactful for fundamental analysis.

Corporate Governance Expert

TL;DR: Standard board compensation; maintains compliance with Section 16 reporting.

The RSU grant follows typical director compensation practices and vests after one year, which is shorter than best-practice three-year schedules but still promotes retention. Proper and timely Section 16 reporting demonstrates governance diligence. There are no red flags such as accelerated vesting, option repricing, or insider sales. Overall, the event is routine and not materially significant for governance risk assessments.

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^*

KELLY CLYDE V. III

(Last) (First) (Middle)

18 EAST DOVER ST.

(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								28,336(1)	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
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 Clyde V. Kelly, III	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 John Lamon now own?

After the reported transactions, Lamon directly owns 62,132 common shares and holds 2,310 RSUs that convert 1-for-1 into shares.

What was the date of the insider acquisition reported in the Form 4 for SHBI?

The transactions occurred on July 29, 2025 and were filed on July 30, 2025.

What securities were acquired by the SHBI director in this filing?

Lamon acquired common stock through a dividend reinvestment plan and received 2,310 Restricted Stock Units at zero cost.

When will the 2,310 RSUs granted to John Lamon vest?

The RSUs vest on July 29, 2026, the first anniversary of the award date.

Did the Form 4 report any insider sales of SHBI stock?

No. The filing shows only acquisitions; there were no sales or dispositions reported.