4/A: Shore Bancshares Director Corrects Previous Filing After Merger with Severn Bancorp

David S. Jones, a director of Shore Bancshares, files an amended Form 4 to correct inaccuracies in a previous filing related to shares acquired following the merger with Severn Bancorp.

Summary

• David S. Jones, a director of Shore Bancshares Inc. (SHBI), filed an amended Form 4 with the SEC.
• The amendment corrects a previous filing from November 2, 2021, which inadvertently reported shares held by a trust and omitted shares held indirectly by Jones of Annapolis, Inc.
• The corrected filing reports the acquisition of 9,279 shares of common stock on October 31, 2021, through the merger of Severn Bancorp, Inc. (SVBI) into Shore Bancshares.
• These shares were received in exchange for 14,950 shares of SVBI common stock.
• The closing price of SVBI's common stock on the merger's effective date was $13.63 per share, while SHBI's closing price was $18.48 per share.
• The reporting person clarifies that they do not have a reportable beneficial interest in 10,730 shares of Shore Bancshares, Inc. common stock owned by their children and previously reported as held by custodian.
• Additionally, a Limited Power of Attorney document is included, granting Christy Lombardi, James M. Burke, and Andrea E. Colender the authority to file Section 16 reports on behalf of David S. Jones.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The sentiment is neutral to slightly positive due to the correction of information.

Industry Context

This filing is a routine regulatory requirement following a merger, ensuring transparency in the beneficial ownership of company stock by its directors and officers.

Stakeholder Impact

• The correction of the filing ensures accurate information is available to shareholders and the public.

Key Dates