Shore Bancshares (SHBI) COO nets RSU shares after tax withholding update

Rhea-AI Filing Summary

Shore Bancshares EVP and COO Donna J. Stevens reported RSU vesting and related share movements. On March 7, 2026, 1,362 restricted stock units converted into an equal number of common shares at $0 per share. To cover tax withholding on this vesting, 478 common shares were withheld by the company, leaving her with 22,122 directly held common shares and 7,727 restricted stock units. She also reports indirect ownership of 60 common shares held by her children and 1,868 common shares held in an IRA, which includes 1,762 shares acquired under the employee stock purchase plan as of March 9, 2026. Remaining restricted stock units are scheduled to vest in several tranches between February 2027 and February 2029.

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

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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).

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^*

STEVENS DONNA J.

(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 Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2026

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	03/07/2026		M		1,362	A	(1)	22,600	D
Common Stock	03/07/2026		F		478(2)	D	$0	22,122(3)	D
Common Stock								60	I	By Children
Common Stock								1,868	I	By 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	(4)	03/07/2026		M			1,362	(5)	(5)	Common Stock	1,362	$0	7,727(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. Includes 1,762 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 9, 2026.

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

5. These restricted stock units vested on March 7, 2026.

6. The restricted stock units vest as follows: 1,362 units on March 7, 2027; 1,471 units on February 27, 2027; 1,471 units on February 27, 2028; 1,141 units on February 17, 2027; 1,141 units on February 17, 2028; and 1,141 units on February 17, 2029.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Donna J. Stevens	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.
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FAQ

What insider transactions did SHBI executive Donna J. Stevens report on this Form 4?

Donna J. Stevens reported vesting and conversion of 1,362 restricted stock units into common shares on March 7, 2026. She also reported 478 common shares withheld by Shore Bancshares to satisfy tax obligations, plus updated direct and indirect holdings in common stock and remaining restricted stock units.

Were any SHORE BANCSHARES INC (SHBI) shares actually sold by Donna J. Stevens?

No shares were sold by Donna J. Stevens in this filing. Footnotes state 478 common shares were withheld by Shore Bancshares to cover tax withholding tied to RSU vesting, which is treated as a disposition for reporting, but not an open-market sale by her.

How many SHBI shares does Donna J. Stevens own after these Form 4 transactions?

After the reported transactions, Donna J. Stevens directly holds 22,122 shares of Shore Bancshares common stock and 7,727 restricted stock units. She also has indirect ownership of 60 common shares held by her children and 1,868 common shares held in an IRA account associated with her.

What restricted stock unit activity did SHBI report for Donna J. Stevens?

1,362 restricted stock units vested and converted into common shares on March 7, 2026, on a one-for-one basis. She continues to hold 7,727 restricted stock units, with additional tranches scheduled to vest on specific dates between February 2027 and February 2029, subject to award terms.

What future RSU vesting schedule is disclosed for SHBI executive Donna J. Stevens?

Future vesting includes 1,362 units on March 7, 2027; 1,471 units on February 27, 2027; 1,471 units on February 27, 2028; and 1,141 units each on February 17, 2027, 2028, and 2029. Each vested unit represents a contingent right to receive one SHBI common share.

How are employee stock purchase plan shares reflected in Donna J. Stevens’ SHBI holdings?

Her reported holdings include 1,762 shares acquired under the Shore Bancshares Employee Stock Purchase Plan as of March 9, 2026. These ESPP shares are included within her indirect ownership, specifically in the 1,868 common shares held in an IRA, as disclosed in the footnotes.