Shore Bancshares (SHBI) CFO awarded 4,744 restricted stock units

Rhea-AI Filing Summary

Charles S. Cullum, identified as EVP and Chief Financial Officer of Shore Bancshares Inc. (SHBI), reported receipt of 4,744 restricted stock units (RSUs) on 08/21/2025. Each RSU converts to one share of common stock and the award carries no cash purchase price ($0). After the grant, Mr. Cullum beneficially owns 17,229 shares of SHBI common stock. The new RSUs vest in annual installments over three years beginning August 21, 2026, and a separate tranche vests on July 29 of 2026, 2027 and 2028 as detailed in the filing. The Form 4 was signed on behalf of Mr. Cullum on 08/22/2025.

Positive

• Increases insider alignment: The RSU grant vests over multiple years, aligning the CFOs interests with long-term shareholder value.
• Timely disclosure: The Form 4 records the award and vesting schedule with specific dates, meeting regulatory reporting requirements.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine executive equity award increases insider ownership modestly but is not likely material to valuation.

The Form 4 documents a standard RSU grant to the companys EVP/CFO totaling 4,744 units, converting one-for-one into common shares and carrying a $0 acquisition price. The award vests over multiple annual installments, which aligns executive incentives with multi-year performance and retention. The incremental ownership post-grant is 17,229 shares; without companywide context or relative share count, the grant appears routine and not likely market-moving.

Corporate Governance Expert

TL;DR: Grant follows typical retention governance practices and is disclosed timely via Form 4.

The filing shows proper Section 16 disclosure for an officer-level equity award, including vesting schedule details and beneficial ownership after the grant. Vesting in staggered annual installments is consistent with retention-focused compensation. The Form 4 was executed by an attorney-in-fact and includes clear explanatory footnotes on vesting timing, meeting disclosure best practices for insider transactions.

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

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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^*

Cullum Charles S

(Last) (First) (Middle)

18 EAST 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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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

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	(1)	08/21/2025		A		4,744		(2)	(2)	Common Stock	4,744	$0	17,229(3)	D

Explanation of Responses:

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

2. Represents restricted stock units that vest in 3 annual installments beginning on August 21, 2026, the first anniversary of the date of the award.

3. Represents restricted stock units that vest as follows: 4,161 units on July 29, 2026, 4,162 units on July 29, 2027, 4,162 units on July 29, 2028, 1,581 units on August 21, 2026, 1,581 units on 8/21/2027 and 1,582 units on August 21, 2028.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Charles S. Cullum	08/22/2025
	** 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 CFO Charles S. Cullum report on Form 4?

He reported receipt of 4,744 restricted stock units (RSUs) granted on 08/21/2025, each convertible to one share of SHBI common stock.

How many shares does Charles S. Cullum beneficially own after the reported transaction?

17,229 shares of SHBI common stock are reported as beneficially owned following the grant.

What is the vesting schedule for the RSUs reported by Cullum (SHBI)?

RSUs vest in three annual installments beginning August 21, 2026, plus a separate tranche vesting July 29 of 2026, 2027 and 2028 as specified in the filing.

What price was paid for the RSUs reported on the Form 4?

The RSUs were granted at a $0 price, reflecting a standard equity award rather than a purchase.

When was the Form 4 signed and who signed it?

The filing is dated 08/22/2025 and is signed by Christy Lombardi, Attorney in Fact, on behalf of Charles S. Cullum.