[Form 4] Shore Bancshares Inc Insider Trading Activity

Rhea-AI Filing Summary

Shore Bancshares (SHBI) – Form 4 filed 07/30/25

Director Alan J. Hyatt reported a single acquisition of 2,310 restricted stock units (code “A”) on 07/29/25. Each RSU converts 1-for-1 into common shares and vests on 07/29/26. No common shares were sold.

Hyatt’s post-transaction holdings are:

• Direct: 936,689 common shares
• Indirect: 833,164 shares held through an IRA, spouse, partnership and four separate trusts
• Total equity exposure: ≈1.77 million shares plus the new 2,310 RSUs

The filing notes the direct share count rose through an exempt dividend reinvestment plan purchase under Rule 16a-11. Hyatt remains a long-standing director and continues to accumulate stock, signaling ongoing alignment with shareholders. No derivative exercises, sales, or other dispositions were disclosed.

Positive

• Insider acquisition: Director Alan J. Hyatt received 2,310 RSUs and recorded additional shares from the dividend reinvestment plan, with no shares sold.
• Significant insider ownership: Hyatt now controls roughly 1.77 million shares, aligning his interests with shareholders.

Negative

• None.

Insights

Equity Research Analyst

TL;DR: Modest insider award; no sales—marginally positive signal.

The 2,310-unit RSU grant adds just 0.1% to Hyatt’s ≈1.77 M-share stake, but directionally it reinforces insider alignment. Absence of sales and continued accumulation via the DRIP eliminate any negative read-through. However, given SHBI’s 12.7 M share float (FY24 10-K), the incremental ownership change is immaterial to supply–demand dynamics. I rate the impact neutral-to-slightly positive for sentiment.

Governance Specialist

TL;DR: Grant follows typical board compensation; governance risk unchanged.

RSUs vest after one year, a relatively short horizon that still encourages retention. Hyatt now controls over 13% of outstanding shares, giving him meaningful influence despite not checking the 10% owner box. No red flags emerge—reporting is timely, grant size aligns with peer practices, and no preferential terms are evident. Overall governance impact is neutral.

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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HYATT ALAN J

(Last) (First) (Middle)

18 EAST 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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								936,689(1)	D
Common Stock								131,552	I	By IRA
Common Stock								5,929	I	By Spouse
Common Stock								7,603	I	By Partnership
Common Stock								388,306	I	By Trust I
Common Stock								170,692	I	By Trust II
Common Stock								53,749	I	By Trust IV
Common Stock								75,333	I	By Trust III

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	(2)	07/29/2025		A		2,310		(3)	(4)	Common Stock	2,310	$0	2,310	D

Explanation of Responses:

1. The amount held reflects an increase in beneficial ownership resulting from an exempt acquisition of common stock under the Shore Bancshares Dividend Reinvestment Plan pursuant to Rule 16a-11.

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

3. Represents restricted stock units that vest on July 29, 2026, the first anniversary of the award.

4. Restricted stock units vest as follows, 2,310 shares on July 29, 2026.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Alan J. Hyatt	07/30/2025
	** 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

How many SHBI shares does director Alan J. Hyatt now own?

He beneficially owns ≈1.77 million common shares (936,689 direct, 833,164 indirect) plus 2,310 RSUs.

What was the nature of the latest insider transaction at SHBI?

On 07/29/25, Hyatt received 2,310 restricted stock units that vest one year later; no shares were sold.

When will the newly granted RSUs to Alan Hyatt vest?

All 2,310 RSUs vest on 07/29/26, the first anniversary of the award.

Did the filing disclose any share sales by the insider?

No. The Form 4 shows only acquisitions (RSU grant and DRIP increase) and zero dispositions.

Why did Hyatt's direct share count increase?

The increase resulted from an exempt purchase under the Shore Bancshares Dividend Reinvestment Plan in accordance with Rule 16a-11.