MIDDLEFIELD BANC CORP — Director's Dealing 2025

Jan 23, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MIDDLEFIELD BANC CORP (MBCN)
CIK: 0000836147
Period of Report: 2025-01-14

Reporting Person: Cheravitch Michael L (EVP-Chief Banking Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-01-14	Conditional Stock Award	$	A	2630	Acquired	2028-01-14	Common Stock (2630)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Conditional Stock Award	$	2027-09-06	Common Stock (2561)	2561	Direct
Conditional Stock Award	$30.0000	2025-12-31	Common Stock (2300)	2300	Direct

Footnotes

F1: The award represents a grant of restricted stock which vests ratably over a three-year period provided that Mr. Cheravitch 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 vesting details may be found on a Form 8-K filed 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 Mr. Cheravitch 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: The award represents a grant of restricted stock which vests on December 31, 2025, if the executive's service continues through that date. Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient.