<SEC-DOCUMENT>0001104659-23-078355.txt : 20230705
<SEC-HEADER>0001104659-23-078355.hdr.sgml : 20230705
<ACCEPTANCE-DATETIME>20230705212735
ACCESSION NUMBER:		0001104659-23-078355
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230701
FILED AS OF DATE:		20230705
DATE AS OF CHANGE:		20230705

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Burke James M
		CENTRAL INDEX KEY:			0001387999

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22345
		FILM NUMBER:		231071844

	MAIL ADDRESS:	
		STREET 1:		3035 LEONARDTOWN ROAD
		CITY:			WALDORF
		STATE:			MD
		ZIP:			20601

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHORE BANCSHARES INC
		CENTRAL INDEX KEY:			0001035092
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				521974638
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		18 EAST DOVER STREET
		CITY:			EASTON
		STATE:			MD
		ZIP:			21601-3013
		BUSINESS PHONE:		4108221400

	MAIL ADDRESS:	
		STREET 1:		18 EAST DOVER STREET
		CITY:			EASTON
		STATE:			MD
		ZIP:			21601-3013
</SEC-HEADER>
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<SEQUENCE>1
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<DESCRIPTION>OWNERSHIP DOCUMENT
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        <issuerName>SHORE BANCSHARES INC</issuerName>
        <issuerTradingSymbol>SHBI</issuerTradingSymbol>
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            <rptOwnerName>Burke James M</rptOwnerName>
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            <rptOwnerStreet1>18 E DOVER STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EASTON</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21601</rptOwnerZipCode>
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            <isTenPercentOwner>0</isTenPercentOwner>
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            <officerTitle>President and CEO</officerTitle>
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                <sharesOwnedFollowingTransaction>
                    <value>22004</value>
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    <footnotes>
        <footnote id="F1">On July 1, 2023, the company formerly known as The Community Financial Corporation (&quot;TCFC&quot;) merged with and into Shore Bancshares Inc. (the &quot;Issuer&quot;). The indicated shares were received in exchange for 23,246 shares of TCFC (which includes 417 TCFC RSAs that remain subject to vesting as previously reported by TCFC) in connection with merger.</footnote>
        <footnote id="F2">At the effective time of the merger, each share of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 of a share of the Issuer's common stock, with fractional shares settled in cash, pursuant to the Agreement and Plan of Merger, dated December 14, 2022, by and between TCFC and the Issuer (the &quot;Agreement&quot;).</footnote>
        <footnote id="F3">The indicated shares were received in exchange for 2,262 shares of TCFC in connection with merger.</footnote>
        <footnote id="F4">The indicated shares were received in exchange for 1,020 shares of TCFC in connection with merger.</footnote>
        <footnote id="F5">Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.</footnote>
        <footnote id="F6">The restricted stock units vest in two equal annual instalments beginning July 1, 2024.</footnote>
        <footnote id="F7">The restricted stock units vest as follows: 983 units on August 20, 2023, 778 units on December 17, 2023, 950 units on February 4, 2024, 596 units on each of February 10, 2024 and February 10, 2025, and 1,564 units on each of March 6, 2024, March 6, 2025 and March 6, 2026.</footnote>
        <footnote id="F8">At the effective time of the merger, each restricted stock unit representing shares of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 restricted stock units representing shares of the Issuer's common stock, with fractional shares rounded to the nearest whole number, pursuant to the Agreement.</footnote>
        <footnote id="F9">The restricted stock units vest as follows: 2,848 on December 31, 2023, 1,788 on December 31, 2024, and 4,695 on December 31, 2025.</footnote>
        <footnote id="F10">At the effective time of the merger, each performance based restricted stock unit representing shares of TCFC common stock issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3287 restricted stock units representing shares of the Issuer's common stock, with fractional shares rounded to the nearest whole number, pursuant to the Agreement.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Christy Lombardi, Attorney in Fact for James M. Burke</signatureName>
        <signatureDate>2023-07-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
