Michael Ranttila - Feb 23, 2025 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
EVP/CFO
Signature
/s/ Michael C. Ranttila by Julie E. Shaw Power of Attorney
Stock symbol
MBCN
Transactions as of
Feb 23, 2025
Transactions value $
$26,241
Form type
4
Date filed
3/3/2025, 03:16 PM
Previous filing
Feb 24, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $40K +1.63K +40.35% $24.57 5.66K Feb 23, 2025 Direct F1, F2
transaction MBCN Common Stock Tax liability -$13.8K -560 -9.89% $24.57 5.1K Feb 23, 2025 Direct F2
holding MBCN Common Stock 50 Feb 23, 2025 as Custodian for Grandson
holding MBCN Common Stock 300 Feb 23, 2025 held in IRA

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
holding MBCN Conditional Stock Award 2.85K Feb 23, 2025 Common Stock 2.85K $27.40 Direct F4
holding MBCN Conditional Stock Award 4.52K Feb 23, 2025 Common Stock 4.52K Direct F3, F6
holding MBCN Conditional Stock Award 4.43K Feb 23, 2025 Common Stock 4.43K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Acquisition represents the vesting of performance shares awarded to the reporting person on February 23, 2022, which vested on the third anniversary of their grant date based upon the Company's total shareholder return.
F2 Includes shares acquired under MBCN Dividend Reinvestment Plan
F3 The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Ranttila 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.
F4 Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8K filing dated March 17, 2023.
F5 The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Ranttila 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.
F6 Each restricted stock unit represents the right to receive, at settlement, one share of common stock.