[Form 4] SHORE BANCSHARES INC Insider Trading Activity

Rhea-AI Filing Summary

Shore Bancshares Inc. (SHBI) reported an equity award to its Executive Vice President and Chief Financial Officer, Charles S. Cullum. On 11/19/2025, he received 12,571 restricted stock units (RSUs), each representing a contingent right to one share of SHBI common stock at an exercise price of $0. These RSUs vest in three annual installments beginning on November 19, 2026, the first anniversary of the grant date.

Following this grant, Cullum beneficially owns 29,800 RSUs, which vest on multiple dates in 2026, 2027 and 2028 according to a detailed schedule. The holding is reported as direct ownership.

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^*

Cullum Charles S

(Last) (First) (Middle)

18 EAST 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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

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

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	(1)	11/19/2025		A		12,571		(2)	(2)	Common Stock	12,571	$0	29,800(3)	D

Explanation of Responses:

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

2. Represents restricted stock units that vest in 3 annual installments beginning on November 19, 2026, the first anniversary of the date of the award.

3. Represents restricted stock units that vest as follows: 4,161 units on July 29, 2026, 4,162 units on July 29, 2027, 4,162 units on July 29, 2028, 1,581 units on August 21, 2026, 1,581 units on August 21, 2027, 1,582 units on August 21, 2028, 4,190 units on November 19, 2026, 4,190 units on November 19, 2027 and 4,191 units on November 19, 2028.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Charles S. Cullum	11/20/2025
	** 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

What did Shore Bancshares (SHBI) disclose in this Form 4 filing?

The filing reports that Charles S. Cullum, Executive Vice President and Chief Financial Officer of Shore Bancshares Inc. (SHBI), received a new grant of 12,571 restricted stock units on 11/19/2025.

How many SHBI restricted stock units were granted to the CFO on 11/19/2025?

On November 19, 2025, the CFO received 12,571 restricted stock units (RSUs), each representing a contingent right to receive one share of SHBI common stock.

What is the vesting schedule for the 12,571 new SHBI restricted stock units?

The 12,571 RSUs granted on 11/19/2025 vest in three annual installments beginning on November 19, 2026, which is the first anniversary of the award date.

How many SHBI restricted stock units does the CFO beneficially own after this transaction?

After the reported transaction, the CFO beneficially owns 29,800 restricted stock units, all reported as direct ownership.

How do the previously granted SHBI restricted stock units vest?

The 29,800 RSUs vest in tranches on several dates: July 29, 2026, July 29, 2027, July 29, 2028, August 21, 2026, August 21, 2027, August 21, 2028, November 19, 2026, November 19, 2027 and November 19, 2028, with specific unit amounts listed in the filing.

What does each SHBI restricted stock unit represent for the reporting person?

Each restricted stock unit represents a contingent right to receive one share of SHBI common stock, subject to the applicable vesting schedule.