[Form 4] Shore Bancshares Inc Insider Trading Activity

Rhea-AI Filing Summary

Shore Bancshares, Inc. (SHBI) Form 4 highlights: EVP & Chief Legal Officer Andrea E. Colender reported the conversion of 995 restricted stock units (RSUs) into an equal number of common shares on 01-Jul-2025 (Transaction Code M). The RSUs vested at no cash cost, increasing her direct share ownership to 26,972 shares. An additional 3,292 shares are held indirectly in an IRA. Following the transaction, Colender still holds 6,156 unvested RSUs scheduled to vest between 2026-2028. The filing represents a routine equity grant vesting rather than an open-market purchase, but it modestly raises insider equity alignment.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; minor direct ownership increase, neutral market impact.

The filing shows Colender converting 995 RSUs, boosting direct holdings by ~4%. With 26,972 shares now owned directly and 3,292 indirectly, her total equity stake remains small relative to SHBI’s ~12 m outstanding shares, limiting signaling value. Because the shares were not bought on the open market, no incremental cash commitment occurred. The remaining 6,156 RSUs provide future retention incentives but create modest dilution already accounted for in share-based compensation expense. Overall, the transaction is administratively routine and unlikely to influence valuation or liquidity.

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).

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^*

Colender Andrea E.

(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 Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		M		995	A	(1)	26,972(2)	D
Common Stock								3,292	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	(3)	07/01/2025		M			995	(4)	(5)	Common Stock	995	$0	6,156	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Includes 2,217 shares acquired under the Shore Bancshares, Inc. Employee Stock Purchase Plan as of July 1, 2025.

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

4. Restricted stock units vested July 1, 2025.

5. The restricted stock units vest as follows: 1,104 units on March 7, 2026, 1,104 units on March 7, 2027, 1,316 units on February 27, 2026, 1,316 units on February 27, 2027 and 1,316 units on February 27, 2028.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Andrea E. Colender	07/02/2025
	** 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

What did SHBI EVP Andrea Colender report on the Form 4 filed 02-Jul-2025?

She converted 995 restricted stock units into common shares on 01-Jul-2025.

How many Shore Bancshares shares does Colender now own directly?

She owns 26,972 common shares directly after the transaction.

Was the transaction an open-market purchase?

No. Transaction Code M indicates an RSU conversion, not a market purchase.

How many unvested RSUs remain outstanding for Colender?

She retains 6,156 restricted stock units scheduled to vest between 2026 and 2028.

What is the potential impact of this Form 4 on SHBI shareholders?

Impact is neutral; it is a routine vesting event with minimal dilution and signaling effect.