SHBI EVP buys 6,500 shares at $15.56, granted 8,800 RSUs

Shore Bancshares Inc. (SHBI) executive Aaron Michael Kaslow, EVP and Chief Legal Officer, reported new holdings in company stock.

Rhea-AI Filing Summary

Shore Bancshares Inc. (SHBI) executive Aaron Michael Kaslow, EVP and Chief Legal Officer, reported new holdings in company stock. On November 18, 2025, he purchased 6,500 shares of SHBI common stock in an open market transaction at a price of $15.56 per share, bringing his directly held common stock position to 6,500 shares.

On November 19, 2025, he was also granted 8,800 restricted stock units (RSUs), each representing a right to receive one share of SHBI common stock. These RSUs vest in three annual installments beginning November 19, 2026, with 2,933 units vesting in 2026, 2,933 in 2027, and 2,934 in 2028.

Insider Trade Summary

Net Buyer: 6,500 shares

Net Buy 2 txns

Insider Kaslow Aaron Michael

Role EVP, Chief Legal Officer

Bought 6,500 shs ($101K)

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	8,800	$0.00	$0.00
Purchase	Common Stock	6,500	$15.56	$101K

Holdings After Transaction: Restricted Stock Units — 8,800 contracts (Direct); Common Stock — 6,500 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
2. F2. 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. F3. The restricted stock units vest as follows: 2,933 units on November 19, 2026, 2,933 units on November 19, 2027 and 2,934 units on November 19, 2028.

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Accepted by SEC EDGAR 11/20/2025 - 11:33 AM 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^*

Kaslow Aaron Michael

(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 Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/18/2025

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	11/18/2025		P		6,500	A	$15.56	6,500	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	(1)	11/19/2025		A		8,800		(2)	(2)	Common Stock	8,800	$0	8,800(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. The restricted stock units vest as follows: 2,933 units on November 19, 2026, 2,933 units on November 19, 2027 and 2,934 units on November 19, 2028.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Aaron Michael Kaslow	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.