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

Rhea-AI Filing Summary

Shore Bancshares EVP Virginia Marie Anderson reported equity award activity involving restricted stock units and common shares. On March 6, 2026, 142 restricted stock units were exercised and converted into 142 shares of common stock at no cash exercise price, increasing her directly held common shares.

A separate entry shows 58 common shares withheld by the issuer to satisfy tax withholding obligations related to the RSU vesting, so no shares were sold by Anderson in the market. After these transactions, she directly held 1,422 shares of common stock and 3,014 restricted stock units, each representing a contingent right to receive one share of SHBI common stock, with additional tranches scheduled to vest 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^*

Anderson Virginia Marie

(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)
	EVP Chief Internal Audit Off.

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		142	A	(1)	1,480	D
Common Stock	03/06/2026		F		58(2)	D	$0	1,422	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			142	(4)	(4)	Common Stock	142	$0	3,014(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 March 6, 2026.

5. The restricted stock units vest as follows: 697 units on February 27, 2027; 697 units on February 27, 2028; 540 units on February 17, 2027; 540 units on February 17, 2028; and 540 units on February 17, 2029.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Virginia M. Anderson	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did SHBI executive Virginia Marie Anderson report on this Form 4?

Virginia Marie Anderson reported RSU-related transactions. She converted 142 restricted stock units into 142 shares of SHBI common stock and had 58 common shares withheld by the company to cover tax obligations tied to the RSU vesting.

Did SHBI EVP Virginia Marie Anderson sell any shares in the March 6, 2026 Form 4?

She did not sell shares in the open market. The Form 4 states 58 SHBI common shares were withheld by the issuer solely to satisfy tax withholding obligations related to RSU vesting, with no discretionary share sale by Anderson.

How many SHBI common shares does Virginia Marie Anderson hold after these Form 4 transactions?

Following the reported transactions, Virginia Marie Anderson directly held 1,422 shares of SHBI common stock. This reflects the RSU conversion of 142 shares and the tax withholding of 58 shares recorded on March 6, 2026.

What happens to SHBI restricted stock units reported by Virginia Marie Anderson?

Each restricted stock unit converts into one share of SHBI common stock upon vesting. Anderson’s Form 4 notes RSUs that vested on March 6, 2026 and additional RSU tranches scheduled to vest on specific dates in 2027, 2028, and 2029.

When are Virginia Marie Anderson’s remaining SHBI restricted stock units scheduled to vest?

The remaining RSUs vest in several future tranches: 697 units on February 27, 2027; 697 on February 27, 2028; 540 on February 17, 2027; 540 on February 17, 2028; and 540 on February 17, 2029, subject to applicable conditions.

How many restricted stock units does Virginia Marie Anderson hold after the reported SHBI Form 4?

After the March 6, 2026 activity, Anderson held 3,014 restricted stock units. Each unit represents a contingent right to receive one share of SHBI common stock upon vesting, as disclosed in the Form 4 footnotes.