Insider Purchase: Shore Bancshares Director Adds $150K Stake

Rhea-AI Filing Summary

On 08/01/2025, Shore Bancshares (SHBI) director Michael Brian Adams purchased 10,000 common shares at $15 each, an investment of roughly $150,000. The Form 4, filed 08/04/2025, shows his direct holdings rising to 44,912 shares, with an additional 9,841 shares held indirectly through a Roth IRA. The transaction code “P” confirms an open-market buy, increasing overall insider ownership and potentially signaling confidence in SHBI’s prospects.

Positive

• Insider confidence: Director bought 10,000 shares (~$150k), boosting direct holdings to 44,912 shares.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider’s $150k buy is a modest but positive signal of confidence.

The open-market purchase by Director Michael Brian Adams adds 10,000 shares to his stake, lifting total beneficial ownership to nearly 55k shares. While the dollar value is small relative to SHBI’s market cap, directors typically have good visibility into bank performance, so incremental buying is generally viewed as bullish. No sales or derivative activity accompany the filing, keeping the signal clean. Impact: positive but limited by transaction size.

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).

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^*

Adams Michael Brian

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		P		10,000	A	$15	44,912	D
Common Stock								9,841	I	By Roth 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

Explanation of Responses:

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Michael Brian Adams	08/04/2025
	** 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 did Director Michael Brian Adams buy?

He purchased 10,000 common shares on 08/01/2025.

At what price were the SHBI shares acquired?

The shares were bought at $15 per share.

What is Adams’ total ownership after the transaction?

He now owns 44,912 shares directly and 9,841 shares indirectly via a Roth IRA.

Was the transaction coded as a purchase or sale?

It was coded “P” for an open-market purchase.

When was the Form 4 for SHBI filed?

The Form 4 was filed on 08/04/2025.