Shore Bancshares (SHBI) officer logs RSU conversions and tax-withheld shares

Rhea-AI Filing Summary

Shore Bancshares Inc Chief Strategy & Project Officer Amanda Lacey Pierce reported equity compensation activity involving restricted stock units (RSUs) and common stock. On March 6 and 7, 2026, RSUs converted into common stock on a one-for-one basis, adding 984 and 965 common shares, respectively, through derivative exercises.

On both dates, 350 and 335 common shares were withheld by the issuer to satisfy tax withholding obligations related to RSU vesting, and no shares were sold by the reporting person. Following these transactions, Pierce directly held 38,709 common shares and maintained additional indirect holdings through an IRA, spouse, and spouse IRA, as well as remaining unvested RSUs scheduled to vest between 2027 and 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^*

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)
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		984	A	(1)	38,429	D
Common Stock	03/07/2026		M		965	A	(1)	39,394	D
Common Stock	03/06/2026		F		350(2)	D	$0	39,044	D
Common Stock	03/07/2026		F		335(2)	D	$0	38,709(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)	03/06/2026		M			984	(7)	(7)	Common Stock	984	$0	7,465	D
Restricted Stock Units	(6)	03/07/2026		M			965	(8)	(8)	Common Stock	965	$0	6,500(9)	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 23,281 shares held jointly with spouse.

4. Includes 1,270 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 9, 2026.

5. Includes 1,270 shares Mr. Pierce acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of March 9, 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 March 6, 2026.

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

9. The restricted stock units vest as follows; 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	03/09/2026
	** 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.
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 did SHBI officer Amanda Lacey Pierce report in this Form 4?

Amanda Lacey Pierce reported RSU vesting and related share movements. Restricted stock units converted into SHBI common stock, and some shares were withheld to cover tax obligations, reflecting routine equity compensation activity rather than open-market buying or selling of shares.

How many SHBI restricted stock units converted to common stock in this filing?

RSUs converted into common stock in two derivative exercises. On March 6, 2026, 984 units converted to common shares, and on March 7, 2026, 965 units converted, each on a one-for-one basis, increasing Amanda Lacey Pierce’s directly held common stock position.

Were any SHBI shares actually sold by Amanda Lacey Pierce?

No shares were sold by Amanda Lacey Pierce. Shares reported under transaction code F were withheld by Shore Bancshares to satisfy tax withholding obligations upon RSU vesting, meaning the disposition was for taxes rather than an open-market or discretionary sale by the officer.

What are Amanda Lacey Pierce’s SHBI share holdings after these transactions?

After the reported transactions, Amanda Lacey Pierce directly held 38,709 SHBI common shares. Additional indirect holdings are reported through an IRA, her spouse, and her spouse’s IRA, along with unvested restricted stock units scheduled to vest across multiple future dates.

How do the SHBI RSUs reported in this Form 4 vest over time?

Some RSUs vested on March 6 and 7, 2026, and converted into common stock. Remaining RSUs are scheduled to vest in tranches on future dates in 2027, 2028, and 2029, each unit representing a contingent right to receive one SHBI common share upon vesting.

Does this SHBI Form 4 indicate open-market buying or selling by the officer?

The filing indicates derivative exercises and tax-withholding dispositions, not open-market trades. RSUs converted into common stock, and certain shares were withheld by the issuer for taxes, so the activity reflects compensation-related events rather than discretionary market purchases or sales by the officer.