MIDDLEFIELD BANC CORP — Director's Dealing 2024

Feb 29, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MIDDLEFIELD BANC CORP (MBCN)
CIK: 0000836147
Period of Report: 2024-02-23

Reporting Person: Erminio Courtney M (EVP/Chief Risk Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-23	Common Stock	A	1042	$24.30	Acquired	3308.991	Direct
2024-02-23	Common Stock	F	401	$24.30	Disposed	2907.991	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	150.525	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Conditional Stock Award	$27.4000	2026-03-10	Common Stock (1628)	1628	Direct
Conditional Stock Award	$24.8000	2025-02-23	Common Stock (1713)	1713	Direct

Footnotes

F1: Acquisition represents the vesting of performance shares granted to the reporting person on February 23, 2024, 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: 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.

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, 2022.