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Shore Bancshares (SHBI) CEO reports RSU vesting and tax share withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

SHORE BANCSHARES INC President & CEO James M. Burke reported equity award vesting and related tax withholding transactions. On March 6 and 7, 2026, restricted stock units converted into a total of 10,939 shares of common stock at no cash exercise price, reflecting compensation vesting rather than open‑market purchases. On those dates, 3,852 common shares were withheld by the issuer to satisfy tax obligations tied to the RSU vesting, and the footnotes state that no shares were sold by Burke. After these transactions, his reported direct common stock holdings increased, while his remaining restricted stock units continue to vest on specified future dates.

Positive

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Negative

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Insider Burke James M
Role President & CEO
Type Security Shares Price Value
Exercise Restricted Stock Units 4,679 $0.00 --
Exercise Common Stock 4,679 $0.00 --
Tax Withholding Common Stock 1,627 $0.00 --
Exercise Restricted Stock Units 6,260 $0.00 --
Exercise Common Stock 6,260 $0.00 --
Tax Withholding Common Stock 2,225 $0.00 --
Holdings After Transaction: Restricted Stock Units — 29,823 shares (Direct); Common Stock — 93,959 shares (Direct)
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. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock. These restricted stock units vested on March 6, 2026. These restricted stock units vested on March 7, 2026. The restricted stock units vest as follows: 4,679 units on March 7, 2027; 5,806 units on February 27, 2027; 5,806 units on February 27, 2028; 4,510 units on February 17, 2027; 4,511 units on February 17, 2028; and 4,511 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
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*
Burke James M
(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026
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 03/06/2026 M 6,260 A (1) 89,280 D
Common Stock 03/07/2026 M 4,679 A (1) 93,959 D
Common Stock 03/06/2026 F 2,225(2) D $0 91,734 D
Common Stock 03/07/2026 F 1,627(2) D $0 90,107 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 (3) 03/06/2026 M 6,260 (4) (4) Common Stock 6,260 $0 34,502 D
Restricted Stock Units (3) 03/07/2026 M 4,679 (5) (5) Common Stock 4,679 $0 29,823(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. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
4. These restricted stock units vested on March 6, 2026.
5. These restricted stock units vested on March 7, 2026.
6. The restricted stock units vest as follows: 4,679 units on March 7, 2027; 5,806 units on February 27, 2027; 5,806 units on February 27, 2028; 4,510 units on February 17, 2027; 4,511 units on February 17, 2028; and 4,511 units on February 17, 2029.
Remarks:
/s/ Christy Lombardi, Attorney in Fact for James M. Burke 03/09/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did SHORE BANCSHARES INC (SHBI) CEO James M. Burke report in this Form 4?

James M. Burke reported the vesting and conversion of restricted stock units into common shares, along with share withholding for taxes. These transactions reflect equity compensation events, not open‑market buying or selling of SHORE BANCSHARES INC common stock.

How many SHBI common shares did James M. Burke receive from RSU vesting?

Burke’s restricted stock units converted into 10,939 SHORE BANCSHARES INC common shares over March 6 and March 7, 2026. The RSUs converted on a one‑for‑one basis into common stock as they vested on the specified vesting dates disclosed in the footnotes.

Were any SHORE BANCSHARES INC shares sold by James M. Burke in this filing?

No shares were sold by James M. Burke. Shares shown under transaction code F were withheld by the issuer to cover tax withholding obligations related to RSU vesting, as explicitly stated in the footnotes to the Form 4 filing.

What do the F-coded transactions mean in the SHBI Form 4 for James M. Burke?

The F-coded transactions indicate shares of SHORE BANCSHARES INC common stock withheld by the issuer to pay tax liabilities tied to RSU vesting. This is a tax-withholding disposition and is distinct from discretionary open‑market sales by the reporting person.

How many SHBI shares were withheld for taxes in James M. Burke’s Form 4?

A total of 3,852 SHORE BANCSHARES INC common shares were withheld to satisfy tax obligations related to RSU vesting. These withheld shares covered the tax liability, and the footnotes confirm that no shares were sold by the reporting person.

Do James M. Burke’s restricted stock units in SHBI continue to vest after these transactions?

Yes. Footnotes describe future vesting for multiple restricted stock unit tranches, including units vesting on March 7, 2027, February 27, 2027 and 2028, and February 17, 2027, 2028, and 2029, reflecting an ongoing equity compensation schedule.