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Shore Bancshares (NASDAQ: SHBI) CFO gets 1,581 shares in RSU vesting

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

Rhea-AI Filing Summary

SHORE BANCSHARES INC (SHBI) reported that EVP and Chief Financial Officer Charles S. Cullum exercised 1,581 restricted stock units on August 21, 2026, receiving an equal number of common shares on a one-for-one basis. Of these, 533 shares were withheld by the issuer to satisfy tax withholding obligations, and no shares were sold by the reporting person. Following this vesting event, Cullum holds 27,934 restricted stock units scheduled to vest in multiple tranches between November 19, 2026 and February 17, 2029.

Positive

  • None.

Negative

  • None.
Insider Cullum Charles S
Role EVP, Chief Financial Officer
Type Security Shares Price Value
Exercise Restricted Stock Units F3, F4, F5 1,581 $0.00 $0.00
Exercise Common Stock F1 1,581 -- --
Tax Withholding Common Stock F2 533 $0.00 $0.00
Holdings After Transaction: Restricted Stock Units — 27,934 shares (Direct); Common Stock — 3,796 shares (Direct)
Footnotes (5)
  1. F1. Restricted stock units convert into common stock on a one-for-one basis.
  2. F2. 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. F3. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.
  4. F4. These restricted stock units vested on August 21, 2026.
  5. F5. Represents restricted stock units that vest as follows: 4,162 units on July 29, 2027; 4,162 units on July 29, 2028; 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; 4,191 units on November 19, 2028; 1,292 units on February 17, 2027; 1,292 units on February 17, 2028; and 1,292 units on February 17, 2029.
Restricted stock units exercised 1,581 units RSUs converted into SHBI common stock on August 21, 2026
Common shares issued from RSUs 1,581 shares Shares of SHBI common stock received upon RSU vesting on August 21, 2026
Shares withheld for tax withholding obligations 533 shares SHBI shares withheld by issuer to satisfy tax obligations; no shares sold
Restricted stock units outstanding after transaction 27,934 units RSUs held by Charles S. Cullum scheduled to vest from November 19, 2026 to February 17, 2029
RSUs vesting on November 19, 2026 4,190 units Part of remaining RSU vesting schedule for Charles S. Cullum
RSUs vesting on November 19, 2027 4,190 units Part of remaining RSU vesting schedule for Charles S. Cullum
RSUs vesting on November 19, 2028 4,191 units Part of remaining RSU vesting schedule for Charles S. Cullum
Restricted Stock Units financial
"Restricted Stock Units convert into common stock on a one-for-one basis"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
vesting financial
"These restricted stock units vested on August 21, 2026"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
tax withholding obligations financial
"Shares withheld by the issuer to satisfy tax withholding obligations"
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share"

FAQ

What insider transaction did SHBI EVP and CFO Charles S. Cullum report on this Form 4?
Charles S. Cullum reported the vesting and exercise of 1,581 restricted stock units into an equal number of SHBI common shares on August 21, 2026, along with related tax withholding via share delivery.

How many SHBI shares did Charles S. Cullum effectively receive after tax withholding?
Cullum had 1,581 SHBI common shares issued upon RSU vesting, of which 533 shares were withheld by the issuer to satisfy tax withholding obligations. The remaining shares represent his net position from this vesting event.

Were any SHBI shares sold by Charles S. Cullum in this Form 4 filing?
No. A footnote states that the 533 SHBI shares reported under code F were withheld by the issuer to satisfy tax withholding obligations in connection with RSU vesting, and that no shares were sold by the reporting person.

How many restricted stock units does Charles S. Cullum still hold in SHBI after this transaction?
After the August 21, 2026 vesting, Cullum holds 27,934 restricted stock units in SHBI, which are scheduled to vest in several installments between November 19, 2026 and February 17, 2029 as detailed in the vesting schedule.

What is the vesting schedule for Charles S. Cullum’s remaining SHBI restricted stock units?
The remaining 27,934 RSUs vest in tranches, including 4,190 units on November 19, 2026 and 2027, 4,191 units on November 19, 2028, plus additional blocks on July 29, 2027–2028 and February 17, 2027–2029, as specified in the schedule.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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 MARYLAND 21601
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
SHORE BANCSHARES INC [ SHBI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP, Chief Financial Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/21/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock08/21/2026M1,581A(1)4,329D
Common Stock08/21/2026F533(2)D$03,796D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(3)08/21/2026M1,581 (4) (4)Common Stock1,581$027,934(5)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 August 21, 2026.
5. Represents restricted stock units that vest as follows: 4,162 units on July 29, 2027; 4,162 units on July 29, 2028; 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; 4,191 units on November 19, 2028; 1,292 units on February 17, 2027; 1,292 units on February 17, 2028; and 1,292 units on February 17, 2029.
Remarks:
/s/ Christy Lombardi, Attorney in Fact for Charles S. Cullum08/25/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR