Shore Bancshares (NASDAQ: SHBI) EVP exercises RSUs and updates stock ownership

Rhea-AI Filing Summary

Shore Bancshares EVP and COO Donna J. Stevens reported equity award activity and updated holdings. On February 27, 2026, she exercised 1,470 restricted stock units, which converted into the same number of common shares at no cash exercise price. To cover tax withholding on the RSU vesting, 496 common shares were withheld by the company, and the footnotes clarify that no shares were sold by Stevens. After these transactions, she directly holds 21,238 common shares and 9,089 restricted stock units, plus indirect holdings of common stock through an IRA and for her children.

Insider Trade Summary

1,470 shares exercised/converted

Mixed 5 txns

Insider STEVENS DONNA J.

Role EVP, Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,470	$0.00	--
Exercise	Common Stock	1,470	$0.00	--
Tax Withholding	Common Stock	496	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 9,089 shares (Direct); Common Stock — 21,734 shares (Direct); Common Stock — 1,868 shares (Indirect, By IRA)

Footnotes (1)

1. Restricted stock units convert into common stock on a one-for-one basis. Shares withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of RSUs; no shares were sold by the reporting person. Includes 1,762 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 3, 2026. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock. These restricted stock units vested on February 27, 2026. The restricted stock units vest as follows: 1,362 units on March 7, 2026; 1,362 units on March 7, 2027; 1,471 units on February 27, 2027; 1,471 units on February 27, 2028; 1,141 units on February 17, 2027; 1,141 units on February 17, 2028; and 1,141 units on February 17, 2029.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

STEVENS DONNA J.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		M		1,470	A	(1)	21,734	D
Common Stock	02/27/2026		F		496(2)	D	$0	21,238(3)	D
Common Stock								1,868	I	By IRA
Common Stock								60	I	By Children

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	(4)	02/27/2026		M			1,470	(5)	(5)	Common Stock	1,470	$0	9,089(6)	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Shares withheld by the issuer to satisfy tax withholding obligations in connection with the vesting of RSUs; no shares were sold by the reporting person.

3. Includes 1,762 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 3, 2026.

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

5. These restricted stock units vested on February 27, 2026.

6. The restricted stock units vest as follows: 1,362 units on March 7, 2026; 1,362 units on March 7, 2027; 1,471 units on February 27, 2027; 1,471 units on February 27, 2028; 1,141 units on February 17, 2027; 1,141 units on February 17, 2028; and 1,141 units on February 17, 2029.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Donna J. Stevens	03/03/2026
	** 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.

FAQ

What insider transactions did SHBI executive Donna J. Stevens report on this Form 4?

Donna J. Stevens reported exercising 1,470 restricted stock units into common stock and a related tax-withholding share reduction. The filing also updates her direct and indirect common stock and restricted stock unit holdings as of February 27, 2026.

Did Donna J. Stevens sell any SHBI shares in this Form 4 filing?

No open-market sale occurred; 496 SHBI shares were withheld by the issuer to satisfy tax withholding on vested RSUs. A footnote states no shares were sold by Stevens, distinguishing this from a discretionary sale transaction.

How many SHBI shares does Donna J. Stevens hold after these transactions?

After the reported transactions, Donna J. Stevens directly holds 21,238 SHBI common shares and 9,089 restricted stock units. The filing also notes additional indirect common stock holdings through an IRA account and shares held for her children.

What are the vesting details of Donna J. Stevens’s SHBI restricted stock units?

The filing shows RSUs vesting on several future dates: 1,362 units on March 7, 2026 and 2027; 1,471 units on February 27, 2027 and 2028; and 1,141 units on February 17, 2027, 2028, and 2029, subject to plan terms.

How do the SHBI restricted stock units convert into common stock for Donna J. Stevens?

Each restricted stock unit represents a contingent right to receive one SHBI common share. Footnotes explain RSUs convert into common stock on a one-for-one basis upon vesting, increasing Stevens’s common stock holdings without a cash exercise price.