SHORE BANCSHARES INC 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds On April 24, 2019 the Corporation’s Board of Directors approved a stock repurchase program. Under the stock repurchase program, the Corporation is authorized to repurchase up to $10 million, or approximately 5%, of its common stock for 2019 and 2020. The program may be limited or terminated at any time without prior notice. During the three months ended September 30, 2020, the Corporation repurchased 288,400 shares of its common stock. The following table provides information with respect to purchases made by or on behalf of us or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of our common stock during the third quarter of 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of ​ Maximum Dollar Value ​ ​ Total Number ​ Average Price ​ Shares Purchased as Part ​ Of Shares that May Yet Be ​ ​ Of Shares ​ Paid Per ​ of the Publicly Announced ​ Purchased Under the Period Purchased Share Plans or Programs Plans or Programs July 1, 2020 to July 31, 2020 ​ ​ — ​ $ — ​ ​ — ​ $ 5,551,624 August 1, 2020 to August 31, 2020 ​ — ​ — ​ — ​ 5,551,624 September 1, 2020 to September 30, 2020 ​ ​ 288,400 ​ ​ 10.56 ​ ​ 288,400 ​ ​ 2,442,624 Total ​ ​ 288,400 ​ $ 10.56 ​ ​ 288,400 ​ ​ ​ ​ ​ The Company has purchased all shares under the current stock repurchase program as of October 26, 2020. Item 3. Defaults Upon Senior Securities None Item 4. Mine Safety Disclosures Not Applicable