[Form 4] Smith-Midland Corporation Insider Trading Activity

Rhea-AI Filing Summary

Rodney I. Smith, a director of Smith-Midland Corporation (SMID), reported two open-market sales of common stock in August 2025. He sold 54 shares on 08/19/2025 at $42.76 and 1,290 shares on 08/21/2025 at $40.00, reducing his beneficial ownership from 549,445 shares to 548,155 shares. No derivative transactions were reported and the Form 4 is signed by Mr. Smith on 08/21/2025.

Positive

• Director retains a substantial stake after the transactions: 548,155 shares, indicating ongoing alignment with shareholders
• Timely Form 4 filing and signature (signed 08/21/2025), showing compliance with reporting obligations

Negative

• Insider sales totaling 1,344 shares (54 at $42.76 and 1,290 at $40.00) reduced the director's holdings
• No disclosure of a 10b5-1 trading plan in the form, so purpose of the sales is not specified

Insights

Financial Analyst

TL;DR: A director sold 1,344 SMID shares in two trades; remaining stake stays large, so market impact is likely minimal.

The reported sales total 1,344 shares executed across two dates and prices, modest relative to the reported post-sale stake of 548,155 shares. There are no derivative transactions or evidence of a 10b5-1 plan disclosed in this filing. For investors, this looks like routine insider liquidity rather than a material change in ownership or control.

Corporate Governance Expert

TL;DR: Routine insider disposition by a director; retention of a substantial shareholding suggests continued alignment with shareholders.

As a director and not listed as a 10% owner, Mr. Smith continues to hold a significant direct stake after the transactions. The filing is timely and signed, showing compliance with Section 16 reporting requirements. The absence of additional context (e.g., planned sales or trading plan language) means the sales should be treated as ordinary disclosures.

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^*

SMITH RODNEY I

(Last) (First) (Middle)

C/O SMITH MIDLAND CORP

5119 CATLETT ROAD

(Street)

MIDLAND VA 22728

(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)

	Director	X	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	08/19/2025		S		54	D	$42.76	549,445	D
Common Stock	08/21/2025		S		1,290	D	$40	548,155	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/ Rodney I. Smith	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.

FAQ

What did Rodney I. Smith report on the Form 4 for SMID?

Mr. Smith reported two open-market sales totaling 1,344 shares: 54 shares on 08/19/2025 at $42.76 and 1,290 shares on 08/21/2025 at $40.00.

How many SMID shares does the reporting person own after the transactions?

Following the reported sales, the Form 4 shows the reporting person beneficially owns 548,155 shares.

Were any derivative securities or option exercises reported on this Form 4 for SMID?

No. Table II for derivative securities contains no reported transactions; only common stock sales are listed.

Is there evidence of a 10b5-1 trading plan in this filing for SMID?

The Form 4 does not indicate that the transactions were made pursuant to a 10b5-1 plan.

When was the Form 4 signed by the reporting person?

The Form 4 is signed by Rodney I. Smith on 08/21/2025.