Anderson Virginia Marie 4

What Happened

• Virginia Marie Anderson, EVP and Chief Internal Audit Officer of Shore Bancshares (SHBI), had 696 restricted stock units (RSUs) vest on February 27, 2026. The RSUs converted one-for-one into 696 shares of common stock. The issuer withheld 269 of those shares to satisfy tax-withholding obligations, resulting in a net increase of 427 shares to Anderson’s holdings. No cash proceeds were reported.

Key Details

• Transaction date: February 27, 2026; Form 4 filed March 3, 2026 (filed within the required two business days).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = shares withheld to satisfy tax liability.
• Shares converted/issued: 696 RSUs → 696 common shares.
• Shares withheld for taxes: 269 shares (no open-market sale by the reporting person).
• Net new shares received by insider: 427 shares.
• Exercise/ conversion price reported as $0.00 (typical for RSU conversion).
• Shares owned after the transaction: not specified in the provided filing details.

Context

• These were restricted stock units vesting into shares (an award conversion), not an open-market purchase or sale. The withholding of shares to cover taxes is a common administrative step and does not indicate a sale by the insider. For retail investors, vested RSUs increase insider ownership but do not necessarily signal a buy/sell decision.