Form 4: Shore Bancshares CEO James M. Burke Reports Stock Transactions
SEC Form 4
James M. Burke, President & CEO of Shore Bancshares, reports transactions involving restricted stock units and common stock.
Summary
- On February 10, 2025, James M. Burke, the President & CEO of Shore Bancshares Inc., reported transactions involving the company's securities.
- These transactions included the conversion of restricted stock units into common stock.
- Specifically, 596 and 1,788 restricted stock units were converted, resulting in the acquisition of the same number of common stock shares.
- Following these transactions, Burke directly owns 70,939 shares of common stock.
- Burke also indirectly owns 2,374 shares through an IRA and 5,708 shares through an ESOP.
- After the reported transactions, Burke directly holds 30,354 and 28,566 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions without expressing any positive or negative outlook.
Industry Context
This filing is a routine disclosure of insider transactions, which is a common practice for publicly traded companies. It provides transparency to investors regarding the buying and selling activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring transparency and compliance with SEC regulations.
- Comparable companies like community banks and financial institutions also regularly file Form 4s to report insider transactions.
- The level of detail provided in this Form 4 is consistent with industry standards, including the number of shares, transaction dates, and ownership types.
Stakeholder Impact
- Shareholders are informed about the transactions of a key executive, providing transparency into insider activity.
- The filing ensures compliance with SEC regulations, maintaining investor confidence.
Key Dates
| Date | Description |
|---|---|
| 2023-07-01 | Limited Power of Attorney executed, appointing Christy Lombardi and Andrea E. Colender to handle Section 16 reporting obligations. |
| 2025-02-10 | Date of earliest transaction: conversion of restricted stock units into common stock. |
| 2025-02-12 | Date of signature of the report. |
| 2025-03-06 | 1,564 restricted stock units vest. |
| 2025-03-07 | 4,679 restricted stock units vest. |
| 2025-07-01 | 6,705 restricted stock units vest. |
| 2026-03-06 | 1,565 and 4,695 restricted stock units vest. |
| 2026-03-07 | 4,679 restricted stock units vest. |
| 2027-03-07 | 4,679 restricted stock units vest. |
Keywords
Shore Bancshares, SHBI, James M. Burke, Restricted Stock Units, Common Stock, Form 4, Section 16, Insider Trading, Beneficial Ownership
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