[Form 4] Smith-Midland Corporation Insider Trading Activity

James Russell Bruner, a director of Smith-Midland Corporation (SMID), reported a sale of 6,000 shares of the companys common stock on 08/20/2025 at a price of $39.06 per share.

Rhea-AI Filing Summary

James Russell Bruner, a director of Smith-Midland Corporation (SMID), reported a sale of 6,000 shares of the companys common stock on 08/20/2025 at a price of $39.06 per share. After the transaction he beneficially owned 6,594 shares, held directly. The Form 4 was signed by Mr. Bruner on 08/21/2025 and was filed as a single reporting person disclosure.

Insights

Securities Analyst

TL;DR A director executed a routine sale of 6,000 SMID shares, reducing direct holdings to 6,594 shares.

This Form 4 discloses a single non-derivative sale by a company director on 08/20/2025 at $39.06 per share. The transaction appears to be an open-market sale rather than a derivative exercise or plan-based transfer; no additional explanatory detail or plan designation is provided. For most investors this is a routine insider liquidity event without further context on intent or timing.

Corporate Governance Expert

TL;DR Director sale reported; disclosure is complete but lacks explanatory detail on rationale or Rule 10b5-1 plan.

The filing correctly identifies the reporting person, relationship as director, and the post-transaction beneficial ownership. It does not indicate that the sale was pursuant to a Rule 10b5-1 trading plan or other pre-arranged arrangement. From a governance perspective, the document meets Form 4 requirements but offers no information to assess whether the trade reflects routine diversification, tax planning, or company-specific views.

Insider Trade Summary

Net Seller: 6,000 shares

Net Sell 1 txn

Insider Bruner James Russell

Role Director

Sold 6,000 shs ($234K)

Type	Security	Shares	Price	Value
Sale	Common Stock	6,000	$39.06	$234K

Holdings After Transaction: Common Stock — 6,594 shares (Direct)

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Accepted by SEC EDGAR 08/21/2025 - 07:48 PM Learn about SEC filing dates

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^*

Bruner James Russell

(Last) (First) (Middle)

C/O SMITH MIDLAND CORP

5119 CATLETT ROAD

(Street)

MIDLAND VA 22725

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SMITH MIDLAND CORP [ SMID ]

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)
08/21/2025

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
Common Stock	08/20/2025		S		6,000	D	$39.06	6,594	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

Explanation of Responses:

	/s/ James Russell Bruner	08/21/2025
	** 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.