<SEC-DOCUMENT>0001104659-23-078366.txt : 20230705
<SEC-HEADER>0001104659-23-078366.hdr.sgml : 20230705
<ACCEPTANCE-DATETIME>20230705212629
ACCESSION NUMBER:		0001104659-23-078366
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:			Tay Tala
		CENTRAL INDEX KEY:			0001804085

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22345
		FILM NUMBER:		231071836

	MAIL ADDRESS:	
		STREET 1:		C/O THE COMMUNITY FINANCIAL CORPORATION
		STREET 2:		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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    <issuer>
        <issuerCik>0001035092</issuerCik>
        <issuerName>SHORE BANCSHARES INC</issuerName>
        <issuerTradingSymbol>SHBI</issuerTradingSymbol>
    </issuer>

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            <rptOwnerCik>0001804085</rptOwnerCik>
            <rptOwnerName>Tay Tala</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>18 E DOVER STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EASTON</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21601</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Risk Officer</officerTitle>
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    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
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                <value>Common Stock</value>
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                <directOrIndirectOwnership>
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                <natureOfOwnership>
                    <value>By TCFC ESOP</value>
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                <transactionShares>
                    <value>2562</value>
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                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F9"/>
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                <sharesOwnedFollowingTransaction>
                    <value>7609</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 2,051 shares of TCFC (plus shares that were transferred from the TCFC DRIP shares) 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 242 shares of TCFC in connection with merger.</footnote>
        <footnote id="F4">Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.</footnote>
        <footnote id="F5">The restricted stock units vest in two equal annual instalments beginning July 1, 2024.</footnote>
        <footnote id="F6">The restricted stock units vest as follows: 370 units on August 20, 2023, 389 units on December 17, 2023, 370 units on February 4, 2024, 235 units on February 10, 2024 and February 10, 2025, and 247 units on each of March 6, 2024 and March 6, 2025 and 249 units on March 6, 2026.</footnote>
        <footnote id="F7">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="F8">The restricted stock units vest as follows: 1,111 on December 31, 2023, 706 on December 31, 2024, and 745 on December 31, 2025.</footnote>
        <footnote id="F9">At the effective time of the merger, each performance based restricted stock unit representing shares of TCFC common stock issued and outstanAding 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 Talal Tay</signatureName>
        <signatureDate>2023-07-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
