Shore Bancshares (SHBI) officer converts RSUs and withholds shares for taxes

Rhea-AI Filing Summary

Shore Bancshares Inc. chief strategy and project officer Amanda Pierce Lacey reported equity award activity in the company’s stock. On February 27, 2026, 1,277 restricted stock units were exercised and converted into the same number of common shares at $0.00 per share, reflecting vesting of previously granted awards. The issuer then withheld 424 common shares to cover tax obligations related to this vesting, and the footnotes state that no shares were sold by the reporting person.

After these transactions, the officer directly held 37,445 shares of common stock and 8,449 restricted stock units. The filing also shows indirect ownership of common stock, including 3,963 shares by an IRA, 24,784 shares by a spouse and 4,919 shares by a spouse IRA, reflecting additional long-term holdings associated with the reporting person.

Insider Trade Summary

1,277 shares exercised/converted

Mixed 6 txns

Insider Pierce Lacey Amanda

Role Chief Strategy&ProjectOfficer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,277	$0.00	--
Exercise	Common Stock	1,277	$0.00	--
Tax Withholding	Common Stock	424	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 8,449 shares (Direct); Common Stock — 37,869 shares (Direct); Common Stock — 3,963 shares (Indirect, By IRA)

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. Includes 1,270 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 3, 2026. Includes 23,281 shares held jointly with spouse. Includes 1,270 shares Mr. Pierce acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 3, 2026. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock. These restricted stock units vested on February 27, 2026. The restricted stock units vest as follows; 984 units on March 6, 2026; 965 units on March 7, 2026; 966 units on March 7, 2027; 1,277 units on February 27, 2027; 1,278 units on February 27, 2028; 993 units on February 17, 2027; 993 units on February 17, 2028; and 993 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^*

Pierce Lacey Amanda

(Last) (First) (Middle)

18 E DOVER ST

(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)
	Chief Strategy&ProjectOfficer

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		M		1,277	A	(1)	37,869	D
Common Stock	02/27/2026		F		424(2)	D	$0	37,445(3)(4)	D
Common Stock								3,963	I	By IRA
Common Stock								24,784(5)	I	By Spouse
Common Stock								4,919	I	By Spouse IRA

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	(6)	02/27/2026		M			1,277	(7)	(7)	Common Stock	1,277	$0	8,449(8)	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. Includes 1,270 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 3, 2026.

4. Includes 23,281 shares held jointly with spouse.

5. Includes 1,270 shares Mr. Pierce acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 3, 2026.

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

7. These restricted stock units vested on February 27, 2026.

8. The restricted stock units vest as follows; 984 units on March 6, 2026; 965 units on March 7, 2026; 966 units on March 7, 2027; 1,277 units on February 27, 2027; 1,278 units on February 27, 2028; 993 units on February 17, 2027; 993 units on February 17, 2028; and 993 units on February 17, 2029.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Lacey A. Pierce	03/03/2026
	** 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.

FAQ

What insider transactions did SHORE BANCSHARES INC (SHBI) report for Amanda Pierce Lacey?

The filing shows 1,277 restricted stock units exercised into common stock and 424 common shares withheld for taxes. These movements reflect vesting of prior equity awards rather than open-market buying or selling of SHBI shares.

Did the SHBI officer sell any shares in this Form 4 transaction?

No, the footnotes specify that no shares were sold by the reporting person. Instead, 424 common shares were withheld by Shore Bancshares to satisfy tax withholding obligations tied to the vesting of restricted stock units.

How many SHBI shares does the officer hold directly after these transactions?

Following the reported activity, the officer directly holds 37,445 shares of Shore Bancshares common stock. In addition, 8,449 restricted stock units remain outstanding, each representing a contingent right to receive one SHBI common share in the future.

What restricted stock unit activity was disclosed for SHBI on February 27, 2026?

On February 27, 2026, 1,277 restricted stock units vested and converted into 1,277 SHBI common shares at a price of $0.00 per share. This reflects previously granted equity compensation reaching its vesting date and being settled in stock.

What indirect SHBI shareholdings are reported for the officer and related accounts?

The filing lists indirect ownership of 3,963 SHBI common shares by an IRA, 24,784 shares by a spouse, and 4,919 shares by a spouse IRA. These holdings supplement the officer’s direct position and are reported as indirect beneficial ownership.

How do the SHBI restricted stock units relate to common shares?

Each restricted stock unit represents a contingent right to receive one SHBI common share, on a one-for-one basis. As units vest on scheduled dates, they convert into common stock, increasing the officer’s shareholdings without an open-market purchase.