Shore Bancshares (SHBI) EVP reports RSU vesting and tax share withholding

Rhea-AI Filing Summary

Shore Bancshares Inc EVP Chief Internal Audit Officer Virginia Marie Anderson reported equity award activity involving company stock. On February 27, 2026, 696 restricted stock units were exercised into 696 shares of common stock at a stated price of $0.0000 per share, increasing her direct common stock holdings to 1,607 shares.

To cover tax withholding related to this RSU vesting, 269 common shares were withheld by the issuer, reducing her directly held common shares to 1,338, as noted in the footnotes that no shares were sold by her. Following these transactions, she directly holds 3,156 restricted stock units. Footnotes also outline additional RSU tranches scheduled to vest between March 6, 2026 and February 17, 2029.

Insider Trade Summary

696 shares exercised/converted

Mixed 3 txns

Insider Anderson Virginia Marie

Role EVP Chief Internal Audit Off.

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	696	$0.00	--
Exercise	Common Stock	696	$0.00	--
Tax Withholding	Common Stock	269	$0.00	--

Holdings After Transaction: Restricted Stock Units — 3,156 shares (Direct); Common Stock — 1,607 shares (Direct)

Footnotes (1)

1. Restricted stock units convert into common stock on a one-for-one basis. 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. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock. These restricted stock units vested on February 27, 2026. The restricted stock units vest as follows: 142 units on March 6, 2026; 697 units on February 27, 2027; 697 units on February 27, 2028; 540 units on February 17, 2027; 540 units on February 17, 2028; and 540 units on February 17, 2029.

Form 4 Insider Transactions: What Each Field Means →

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^*

Anderson Virginia Marie

(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)
	EVP Chief Internal Audit Off.

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		M		696	A	(1)	1,607	D
Common Stock	02/27/2026		F		269(2)	D	$0	1,338	D

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)	02/27/2026		M			696	(4)	(4)	Common Stock	696	$0	3,156(5)	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. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.

4. These restricted stock units vested on February 27, 2026.

5. The restricted stock units vest as follows: 142 units on March 6, 2026; 697 units on February 27, 2027; 697 units on February 27, 2028; 540 units on February 17, 2027; 540 units on February 17, 2028; and 540 units on February 17, 2029.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Virginia M. Anderson	03/03/2026
	** 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 insider transactions did SHBI executive Virginia Marie Anderson report on this Form 4?

Virginia Marie Anderson reported RSU-related transactions on February 27, 2026. 696 restricted stock units converted into 696 common shares at a stated price of $0.0000 per share, and 269 common shares were withheld by Shore Bancshares to satisfy tax withholding obligations tied to the RSU vesting.

Did the SHBI executive actually sell any shares in this Form 4 filing?

No, the filing specifies that no shares were sold by the reporting person. Instead, 269 common shares were withheld by Shore Bancshares solely to cover tax withholding obligations associated with the vesting of restricted stock units, rather than being sold in the open market.

How many SHBI common shares does Virginia Marie Anderson hold after these transactions?

After the reported transactions, Virginia Marie Anderson directly holds 1,338 shares of SHBI common stock. Her holdings first increased to 1,607 shares following RSU conversion, then decreased when 269 shares were withheld by the issuer to satisfy tax withholding obligations linked to the vesting.

What happens to the SHBI restricted stock units reported in this Form 4?

Each restricted stock unit converts into one share of SHBI common stock. Following the February 27, 2026 vesting and conversion of 696 units, Anderson continues to directly hold 3,156 RSUs, which represent future contingent rights to receive an equal number of SHBI common shares.

What is the vesting schedule for Virginia Marie Anderson’s remaining SHBI restricted stock units?

The remaining restricted stock units vest in multiple tranches. Footnotes state 142 units vest March 6, 2026; 697 units on February 27, 2027 and 2028; and 540 units on February 17, 2027, 2028, and 2029, contingent on award terms and continued eligibility.