MIDDLEFIELD BANC CORP — Director's Dealing 2022

Mar 3, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MIDDLEFIELD BANC CORP (MBCN)
CIK: 0000836147
Period of Report: 2022-03-01

Reporting Person: CALDWELL THOMAS G (Director, President/Chief Executive Offi)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-03-01	Common Stock	A	4945	$25.52	Acquired	23477	Direct
2022-03-01	Common Stock	F	2203	$25.52	Disposed	21274	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	31627.311	Direct
Common Stock	536.148	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Conditional Stock Award	$22.50	2024-02-23	Common Stock (5291)	5291	Direct
Conditional Stock Award	$26.09	2023-02-25	Common Stock (4387)	4387	Direct

Footnotes

F1: Acquisition represents the vesting of performance shares granted to the reporting person on March 1, 2019, which vested on the third anniversary of their grant date based upon the Company's total shareholder return.

F2: Includes shares acquired under the MBCN Dividend Reinvestment Plan.

F3: Includes shares held jointly with spouse.

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 8-K filing dated February 25, 2021.

F5: 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 8-K filing dated February 26, 2020.