Sarah A. Winters - 14 Jan 2025 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MBCN	Conditional Stock Award	Award		+2,828			2,828	14 Jan 2025	Common Stock	2,828		Direct	F1, F2
holding	MBCN	Conditional Stock Award						2,561	14 Jan 2025	Common Stock	2,561		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mrs. Winters remains continuously employed by Middlefield as of each vesting date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. The details of the vesting conditions may be found in a Form 8-K filing dated January 17, 2025.
F2	Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
F3	The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mrs. Winters remains continuously employed by Middlefield as of each vesting date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient.