[Form 4] Shore Bancshares Inc Insider Trading Activity

Rhea-AI Filing Summary

Shore Bancshares Inc. (SHBI) – Director Form 4 filing dated 07/30/2025

Director Konrad M. Wayson reported an equity-based compensation grant and an increase in share count via the company’s dividend reinvestment plan (DRIP).

• Equity grant: 2,310 restricted stock units (RSUs) awarded on 07/29/2025 (Transaction Code “A”). Each RSU converts into one common share and vests in full on 07/29/2026.
• Current holdings: 21,749 common shares held directly; 59,731 shares held indirectly through a trust.
• The filing notes the increase in common shares was an exempt acquisition under Rule 16a-11 (DRIP), indicating no open-market purchase or sale of stock.

No shares were disposed of, and no cash consideration was paid for the RSUs, so there is no immediate dilution or insider selling signal. The grant modestly raises insider alignment but does not materially affect the company’s share count or capital structure.

Insights

Securities Analyst

TL;DR – Insider received 2,310 RSUs; no sales; alignment positive but immaterial to valuation.

The award adds ~0.02% to total shares outstanding, so dilution is negligible. Lack of open-market buying limits bullish signaling, yet continued participation in DRIP and equity compensation keeps the director’s incentives tied to shareholder value. From a trading perspective, the filing is neutral; it neither indicates insider confidence (large purchase) nor concern (sale).

Corporate Governance Expert

TL;DR – Standard board compensation; supports alignment, no red flags.

Annual RSU grants that cliff-vest after one year are consistent with small-cap bank governance norms. The DRIP acquisition under Rule 16a-11 is automatic, reducing the likelihood of information-timed trades. Overall, the disclosure reflects routine compensation and compliant reporting—neutral-to-slightly-positive from a governance standpoint.

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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

McDonald Rebecca Middleton

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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								60,793	D
Common Stock								16,162	I	By Trustee for EFD IR Trust
Common Stock								18,490	I	By Trustee for BMF Trust
Common Stock								2,619(1)	I	By Daughter

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	(2)	07/29/2025		A		2,310		(3)	(4)	Common Stock	2,310	$0	2,310	D

Explanation of Responses:

1. Shares are no longer held in custodianship

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

3. Represents restricted stock units that vest on July 29, 2026, the first anniversary of the award.

4. Restricted stock units vest as follows, 2,310 shares on July 29, 2026.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Rebecca M. McDonald	07/30/2025
	** 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 Shore Bancshares (SHBI) shares does Director Konrad Wayson now own?

Direct: 21,749 shares; Indirect via trust: 59,731 shares; RSUs: 2,310 units pending vesting.

What was the transaction code in the SHBI Form 4 filed on 07/30/2025?

Code “A” – an acquisition of derivative securities (RSU grant).

When do the newly granted RSUs to the SHBI director vest?

All 2,310 RSUs vest on July 29, 2026.

Was there any insider selling in this SHBI Form 4?

No. The filing reports only an exempt DRIP share increase and an RSU grant—no shares were sold.

Did the director pay anything for the RSUs granted on 07/29/2025?

No. The RSUs have a stated price of $0; they are part of equity compensation.