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[Form 4] Middlefield Banc Corp. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Courtney M. Erminio, EVP and Chief Risk Officer of Middlefield Banc Corp (MBCN), reported the vesting and acquisition of restricted common stock on 08/06/2025. The filing shows 853 shares were acquired upon vesting at a reported price of $27.11 per share. The report notes that some holdings include shares from Middlefield's Dividend Reinvestment Plan and shares held jointly with a spouse.

The filing also discloses outstanding conditional stock awards that convert to common shares on future vesting dates: 1,628 shares vesting 03/10/2026, 1,708 shares vesting 09/06/2027, and 2,828 shares vesting 01/14/2028. The Form 4 was signed via power of attorney on 08/07/2025.

Courtney M. Erminio, EVP e Chief Risk Officer di Middlefield Banc Corp (MBCN), ha segnalato la maturazione e l'acquisto di azioni ordinarie vincolate il 08/06/2025. La comunicazione indica che al momento della maturazione sono state acquisite 853 azioni a un prezzo dichiarato di $27.11 per azione. Il rapporto precisa che alcune partecipazioni comprendono azioni provenienti dal Piano di Reinvesimento dei Dividendi di Middlefield e azioni detenute congiuntamente con il coniuge.

La segnalazione riporta inoltre premi azionari condizionati ancora in essere che si convertiranno in azioni ordinarie in future date di maturazione: 1,628 azioni in maturazione il 03/10/2026, 1,708 azioni in maturazione il 09/06/2027 e 2,828 azioni in maturazione il 01/14/2028. Il Modulo 4 è stato firmato tramite procura il 08/07/2025.

Courtney M. Erminio, EVP y Chief Risk Officer de Middlefield Banc Corp (MBCN), informó la adquisición por vencimiento de acciones ordinarias restringidas el 08/06/2025. La presentación muestra que se adquirieron 853 acciones al vencimiento a un precio declarado de $27.11 por acción. El informe señala que algunas posiciones incluyen acciones procedentes del Plan de Reinversión de Dividendos de Middlefield y acciones mantenidas conjuntamente con el cónyuge.

La presentación también revela adjudicaciones condicionadas de acciones pendientes que se convertirán en acciones ordinarias en futuras fechas de vencimiento: 1,628 acciones que vencen el 03/10/2026, 1,708 acciones que vencen el 09/06/2027 y 2,828 acciones que vencen el 01/14/2028. El Formulario 4 fue firmado por poder el 08/07/2025.

Courtney M. Erminio� Middlefield Banc Corp(MBCN)� EVP � 최고위험책임�(CRO)로서 08/06/2025� 제한 보통주의 vesting(확정) � 취득� 신고했습니다. 제출서류� 따르� vesting � 853주를 취득했으� 신고� 주당 가격은 $27.11입니�. 보고서는 일부 보유분에 Middlefield� 배당 재투� 계획(Dividend Reinvestment Plan)� 따른 주식� 배우자와 공동 보유� 주식� 포함되어 있다� 적시합니�.

또한 제출서류에는 향후 vesting일에 보통주로 전환� 조건부 주식 보상 잔여분이 공시되어 있습니다: 03/10/2026� vesting되는 1,628�, 09/06/2027� vesting되는 1,708�, 01/14/2028� vesting되는 2,828�. 양식 4� 08/07/2025� 위임장을 통해 서명되었습니�.

Courtney M. Erminio, EVP et Chief Risk Officer de Middlefield Banc Corp (MBCN), a déclaré la levée et l'acquisition d'actions ordinaires restreintes le 08/06/2025. Le dépôt indique que 853 actions ont été acquises lors de la levée à un prix déclaré de $27.11 par action. Le rapport précise que certaines positions incluent des actions issues du plan de réinvestissement des dividendes de Middlefield et des actions détenues conjointement avec le conjoint.

Le dépôt révèle également des attributions conditionnelles d'actions en cours qui se convertiront en actions ordinaires à des dates de levée futures : 1,628 actions arrivant à échéance le 03/10/2026, 1,708 actions arrivant à échéance le 09/06/2027 et 2,828 actions arrivant à échéance le 01/14/2028. Le formulaire 4 a été signé par procuration le 08/07/2025.

Courtney M. Erminio, EVP und Chief Risk Officer von Middlefield Banc Corp (MBCN), meldete die Vesting und den Erwerb von eingeschränkten Stammaktien am 08/06/2025. Die Einreichung weist aus, dass beim Vesting 853 Aktien erworben wurden zu einem angegebenen Preis von $27.11 je Aktie. Der Bericht vermerkt, dass einige Bestände Aktien aus Middlefields Dividend Reinvestment Plan sowie gemeinsam mit dem Ehepartner gehaltene Aktien umfassen.

Die Meldung gibt außerdem bestehende bedingte Aktienzuteilungen an, die bei zukünftigen Vesting-Terminen in Stammaktien umgewandelt werden: 1,628 Aktien, vesting am 03/10/2026, 1,708 Aktien, vesting am 09/06/2027 und 2,828 Aktien, vesting am 01/14/2028. Das Formular 4 wurde am 08/07/2025 per Vollmacht unterschrieben.

Positive
  • 853 shares vested and were acquired by the reporting officer on 08/06/2025 at $27.11 per share
  • Multiple conditional awards remain outstanding with clear vesting dates (1,628; 1,708; 2,828 shares), showing continued alignment of executive compensation with company performance/time
  • Dividend Reinvestment Plan participation increases insider ownership via reinvestment rather than cash distributions
Negative
  • None.

Insights

TL;DR: Routine insider vesting modestly increases holdings; no sale or material change reported.

The filing documents a time- and performance-based vesting event rather than an open-market purchase or sale. 853 shares vested at $27.11, which increases the reporting officer's direct holdings. The presence of a Dividend Reinvestment Plan component and joint holdings are administrative details that slightly affect reported beneficial ownership but do not indicate a change in corporate control or a liquidity event. Overall, this is a standard compensation-related equity event with limited immediate market impact.

TL;DR: Equity compensation and scheduled restricted awards disclosed; filings show standard governance and disclosure processes.

The Form 4 discloses vesting of restricted stock and multiple conditional awards with explicit vesting schedules (03/10/2026, 09/06/2027, 01/14/2028). The explanation references prior Form 8-K documentation for performance conditions, indicating consistent disclosure practices. The signature executed by power of attorney on 08/07/2025 is properly noted. There are no indications of unusual transfer mechanisms or departures from typical insider reporting requirements.

Courtney M. Erminio, EVP e Chief Risk Officer di Middlefield Banc Corp (MBCN), ha segnalato la maturazione e l'acquisto di azioni ordinarie vincolate il 08/06/2025. La comunicazione indica che al momento della maturazione sono state acquisite 853 azioni a un prezzo dichiarato di $27.11 per azione. Il rapporto precisa che alcune partecipazioni comprendono azioni provenienti dal Piano di Reinvesimento dei Dividendi di Middlefield e azioni detenute congiuntamente con il coniuge.

La segnalazione riporta inoltre premi azionari condizionati ancora in essere che si convertiranno in azioni ordinarie in future date di maturazione: 1,628 azioni in maturazione il 03/10/2026, 1,708 azioni in maturazione il 09/06/2027 e 2,828 azioni in maturazione il 01/14/2028. Il Modulo 4 è stato firmato tramite procura il 08/07/2025.

Courtney M. Erminio, EVP y Chief Risk Officer de Middlefield Banc Corp (MBCN), informó la adquisición por vencimiento de acciones ordinarias restringidas el 08/06/2025. La presentación muestra que se adquirieron 853 acciones al vencimiento a un precio declarado de $27.11 por acción. El informe señala que algunas posiciones incluyen acciones procedentes del Plan de Reinversión de Dividendos de Middlefield y acciones mantenidas conjuntamente con el cónyuge.

La presentación también revela adjudicaciones condicionadas de acciones pendientes que se convertirán en acciones ordinarias en futuras fechas de vencimiento: 1,628 acciones que vencen el 03/10/2026, 1,708 acciones que vencen el 09/06/2027 y 2,828 acciones que vencen el 01/14/2028. El Formulario 4 fue firmado por poder el 08/07/2025.

Courtney M. Erminio� Middlefield Banc Corp(MBCN)� EVP � 최고위험책임�(CRO)로서 08/06/2025� 제한 보통주의 vesting(확정) � 취득� 신고했습니다. 제출서류� 따르� vesting � 853주를 취득했으� 신고� 주당 가격은 $27.11입니�. 보고서는 일부 보유분에 Middlefield� 배당 재투� 계획(Dividend Reinvestment Plan)� 따른 주식� 배우자와 공동 보유� 주식� 포함되어 있다� 적시합니�.

또한 제출서류에는 향후 vesting일에 보통주로 전환� 조건부 주식 보상 잔여분이 공시되어 있습니다: 03/10/2026� vesting되는 1,628�, 09/06/2027� vesting되는 1,708�, 01/14/2028� vesting되는 2,828�. 양식 4� 08/07/2025� 위임장을 통해 서명되었습니�.

Courtney M. Erminio, EVP et Chief Risk Officer de Middlefield Banc Corp (MBCN), a déclaré la levée et l'acquisition d'actions ordinaires restreintes le 08/06/2025. Le dépôt indique que 853 actions ont été acquises lors de la levée à un prix déclaré de $27.11 par action. Le rapport précise que certaines positions incluent des actions issues du plan de réinvestissement des dividendes de Middlefield et des actions détenues conjointement avec le conjoint.

Le dépôt révèle également des attributions conditionnelles d'actions en cours qui se convertiront en actions ordinaires à des dates de levée futures : 1,628 actions arrivant à échéance le 03/10/2026, 1,708 actions arrivant à échéance le 09/06/2027 et 2,828 actions arrivant à échéance le 01/14/2028. Le formulaire 4 a été signé par procuration le 08/07/2025.

Courtney M. Erminio, EVP und Chief Risk Officer von Middlefield Banc Corp (MBCN), meldete die Vesting und den Erwerb von eingeschränkten Stammaktien am 08/06/2025. Die Einreichung weist aus, dass beim Vesting 853 Aktien erworben wurden zu einem angegebenen Preis von $27.11 je Aktie. Der Bericht vermerkt, dass einige Bestände Aktien aus Middlefields Dividend Reinvestment Plan sowie gemeinsam mit dem Ehepartner gehaltene Aktien umfassen.

Die Meldung gibt außerdem bestehende bedingte Aktienzuteilungen an, die bei zukünftigen Vesting-Terminen in Stammaktien umgewandelt werden: 1,628 Aktien, vesting am 03/10/2026, 1,708 Aktien, vesting am 09/06/2027 und 2,828 Aktien, vesting am 01/14/2028. Das Formular 4 wurde am 08/07/2025 per Vollmacht unterschrieben.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Erminio Courtney M

(Last) (First) (Middle)
15985 EAST HIGH STREET

(Street)
MIDDLEFIELD OH 44062

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MIDDLEFIELD BANC CORP [ MBCN ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP/Chief Risk Officer
3. Date of Earliest Transaction (Month/Day/Year)
08/06/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/06/2025 A(1) 853 A $27.11 4,678.991(2) D
Common Stock 08/06/2025 F 242 D $27.11 4,436.991(2) D
Common Stock 150.525(2) D(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Conditional Stock Award(5) $27.4 (5) 03/10/2026 Common Stock 1,628 1,628 D
Conditional Stock Award(6) (4) (6) 09/06/2027 Common Stock 1,708 1,708 D
Conditional Stock Award(7) (4) (7) 01/14/2028 Common Stock 2,828 2,828 D
Explanation of Responses:
1. The acquisition represents the vesting of restricted stock granted to the reporting person on August 6, 2024. The shares vested on the first anniversary of the grant date.
2. Includes shares acquired under MBCN Dividend Reinvestment Plan
3. Includes shares held jointly with spouse.
4. Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
5. 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.
6. The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mrs. Erminio 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 dated September 4, 2024.
7. The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mrs. Erminio 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 dated January 17, 2025.
/s/ Courtney M. Erminio by Julie E. Shaw Power of Attorney 08/07/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Courtney Erminio (MBCN) report on Form 4?

The filing reports the vesting and acquisition of 853 common shares on 08/06/2025 at a reported price of $27.11, plus disclosure of outstanding conditional awards and DRIP participation.

How many restricted/conditional awards does the Form 4 disclose for MBCN insider?

The Form 4 lists three conditional stock awards converting to common stock: 1,628 shares (03/10/2026), 1,708 shares (09/06/2027), and 2,828 shares (01/14/2028).

Were any shares sold by the reporting person in this filing for MBCN?

No sales are reported in this Form 4; the primary transaction disclosed is the vesting and acquisition of restricted shares.

Does the filing mention other sources of the reporting person’s holdings for MBCN?

Yes. The filing explicitly states that reported holdings include shares acquired under the Dividend Reinvestment Plan and shares held jointly with a spouse.

When was the Form 4 signed and who signed it?

The Form 4 was signed by /s/ Courtney M. Erminio executed by Julie E. Shaw via power of attorney on 08/07/2025.
Middlefield Banc Corp

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Banks - Regional
State Commercial Banks
United States
MIDDLEFIELD