[Form 4] Shore Bancshares Inc Insider Trading Activity

Rhea-AI Filing Summary

On July 1, 2025, Brian Scot Ebron, Executive Vice President & Chief Banking Officer of Shore Bancshares, Inc. (SHBI), converted 1,562 restricted stock units (RSUs) into common stock (Form 4, transaction code “M”). The RSUs carried a $0 exercise price and convert one-for-one into shares, increasing Ebron’s direct ownership to 22,423 shares. He also holds 36,148 shares indirectly via an IRA and 819 shares through the company ESOP. After the transaction, 9,056 RSUs remain outstanding, vesting in scheduled tranches between 2026 and 2028. No open-market purchases or sales were reported; the filing represents routine equity vesting designed to align executive incentives with shareholder interests.

• Insider: Brian Scot Ebron (EVP, Chief Banking Officer)
• Transaction date: 07/01/2025
• Securities acquired: 1,562 SHBI common shares via RSU conversion
• Resulting direct holdings: 22,423 shares
• Derivative holdings remaining: 9,056 unvested RSUs

The modest size and zero-cost nature of the transaction suggest a neutral signal rather than a directional bet on the stock.

Positive

• Executive share ownership rises, reinforcing alignment with shareholders.
• Clear, scheduled RSU vesting through 2028 supports talent retention and predictable dilution.

Negative

• No open-market purchase signal; acquisition was at $0 cost, limiting bullish inference.
• Small volume (1,562 shares) is immaterial to float and insider stake.

Insights

Financial Analyst

TL;DR: Routine RSU vesting; minor ownership increase—signal neutral.

The Form 4 shows an equity award merely maturing, not an open-market buy. Although direct share count rose 7%, only 1,562 shares changed status and no cash was deployed. Remaining 9,056 RSUs indicate continued long-term alignment but provide little incremental insight into near-term performance. From a valuation or liquidity standpoint, the filing is not materially impactful.

Corporate Governance Expert

TL;DR: Standard incentive plan mechanics; governance posture intact.

The disclosure evidences compliance with Section 16 reporting and transparent equity incentive practices. Vesting over multiple future dates promotes retention of the EVP. No red flags—no discretionary grants, repricing, or accelerated vesting. Investors should view the report as administratively positive yet impact-neutral to corporate governance risk.

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^*

Ebron Brian Scot

(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 Banking Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		M		1,562	A	(1)	22,423(2)	D
Common Stock								36,148	I	By IRA
Common Stock								819	I	By ESOP

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	(3)	07/01/2025		M			1,562	(4)	(5)	Common Stock	1,562	$0	9,056	D

Explanation of Responses:

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

2. Includes 1,089 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of July 1, 2025.

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

4. Restricted stock units vested July 1, 2025.

5. The restricted stock units vest as follows: 298 units on March 6, 2026, 894 units on March 6, 2026, 1,435 units on March 7, 2026, 1,436 units on March 7, 2027, 1,664 units on February 27, 2026, 1,664 units on February 27, 2027 and 1,665 units on February 27, 2028.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Brian Scot Ebron	07/02/2025
	** 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 SHBI shares did EVP Brian Scot Ebron acquire on July 1, 2025?

He acquired 1,562 common shares through the conversion of vested RSUs.

What is transaction code "M" on the SHBI Form 4?

Code "M" indicates the conversion of derivative securities (RSUs) into common stock, not an open-market trade.

How many SHBI shares does Ebron now own directly?

After the transaction, he directly owns 22,423 shares.

Does Ebron still hold unvested SHBI RSUs?

Yes, 9,056 RSUs remain outstanding, vesting between 2026 and 2028.

Was any cash paid for the newly acquired SHBI shares?

No. The RSUs converted at an exercise price of $0.