SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Pierce Lacey Amanda

(Last)

(First)

(Middle)

18 E DOVER ST

(Street)

EASTON

21601

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/27/2024

3. Issuer Name and Ticker or Trading Symbol
SHORE BANCSHARES INC [ SHBI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, CAO

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	28,123	D⁽¹⁾
Common Stock	19,631	I	By Spouse
Common Stock	4,919	I	By Spouse ESOP
Common Stock	3,963	I	By ESOP

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stock Units	⁽²⁾	⁽³⁾	Common Stock	941	⁽⁴⁾	D
Restricted Stock Units	⁽⁵⁾	⁽⁶⁾	Common Stock	1,474	⁽⁴⁾	D
Restricted Stock Units	⁽⁷⁾	⁽⁸⁾	Common Stock	2,705	⁽⁴⁾	D

Explanation of Responses:

1. Includes 21,775 shares held jointly with spouse.

2. Represents restricted stock units that vest in 3 annual installments beginning on February 10, 2023, the first anniversary of the date of the award.

3. 941 units will vest on February 10, 2025.

4. Each restricted stock unit represents a contingent right to receive one share of SHBI common stock.

5. Represents restricted stock units that vest in 3 annual installments beginning on March 6, 2024, the first anniversary of the date of the award.

6. 245 units vest on March 6, 2024; 245 units vest on March 6, 2025; and 984 units vest on March 6, 2026.

7. Represents restricted stock units that vest in 2 annual installments beginning on July 1, 2024, the first anniversary date of the award.

8. 1352 units vest on July 1, 2024 and 1353 units vest on July 1, 2025.

Remarks:

	/s/ Christy Lombardi, Attorney in Fact for Lacey A. Pierce	03/07/2024
	** 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 5 (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.