SHORE BANCSHARES INC 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. MARKET INFORMATION, HOLDERS AND CASH DIVIDENDS The shares of the Company’s common stock are listed on the NASDAQ Global Select Market under the symbol “SHBI”. As of March 15, 2021, the Company had approximately 1,201 registered holders of record. Shareholders received quarterly cash dividends on shares of common stock totaling $6.0 million in 2020 and $5.3 million in 2019. Dividends increased from 2019 due to the Company’s operating results from continuing operations and excess capital. As a general matter, the payment of dividends is at the discretion of the Company’s Board of Directors, based on such factors as operating results, financial condition, capital adequacy, regulatory requirements, and stockholder return. The Company anticipates continuing a regular quarterly cash dividend. However, we have no obligation to pay dividends and we may change our dividend policy at any time without notice to shareholders. Any future determination to pay dividends to holders of our common stock will depend on our results of operations, financial condition, capital requirements, banking regulations, contractual restrictions and any other factors that our board of directors may deem relevant. The transfer agent for the Company’s common stock is: Broadridge 51 Mercedes Way Edgewood, NY 11717 Investor Relations: 1-800-353-0103 E-mail for investor inquiries: shareholder@broadridge.com . www.broadridge.com ​ EQUITY COMPENSATION PLAN INFORMATION The following table contains information about these equity compensation plans as of December 31, 2020. ​ ​ ​ ​ ​ ​ ​ ​ Number of securities ​ ​ Number of securities to be ​ Weighted-average ​ remaining available for future ​ ​ issued upon exercise of ​ exercise price of ​ issuance under equity ​ ​ outstanding options, warrants ​ outstanding options, ​ compensation plans [excluding ​ ​ and rights ​ warrants, and rights ​ securities reflected in Plan Category ​ (a) ​ (b) ​ column (a)] ( c) Equity compensation plans approved by security holders 2,709 6.64 608,414 ​ ​ ​ ​ ​ ​ ​ Equity compensation plans not approved by security holders — — — ​ ​ ​ ​ Total 2,709 6.64 608,414 ​ All other information required by this item is incorporated herein by reference to the section of the Company’s definitive proxy statement to be filed in connection with the 2021 Annual Meeting of Stockholders entitled “Beneficial Ownership of Common Stock”. ​ ​ 34 Table of Contents UNREGISTERED SALES OF EQUITY SECURITIES AND ISSUER PURCHASES OF EQUITY SECURITIES ​ There were no unregistered sales of the Company’s stock during the fourth quarter of 2020. ​ The Company completed its original stock repurchase program that was approved in April of 2019 on October 26, 2020 which authorized the repurchase of up to $10.0 million of the Company’s common stock. Subsequently, on November 24, 2020 the Company announced an additional stock repurchase program which was approved by the Board and authorized management to repurchase up to $5.0 million of the Company’s common stock. During the fourth quarter of 2020, the Company repurchased 183,471 shares of its common stock under the “original” repurchase plan and repurchased 253,900 shares of its common stock under the “new” repurchase plan. ​ The following tables provide 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 fourth quarter of 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Original Stock Repurchase Plan $10.0 million (2019-2020) ​ ​ ​ ​ ​ 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 October 1, 2020 to October 31, 2020 ​ ​ 183,471 ​ $ 11.63 ​ ​ 183,471 ​ $ — November 1, 2020 to November 30, 2020 ​ — ​ — ​ — ​ — December 1, 2020 to December 31, 2020 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ ​ 183,471 ​ $ 11.63 ​ ​ 183,471 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ New Stock Repurchase Plan $5.0 million (2020-2021) ​ ​ ​ ​ ​ 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 October 1, 2020 to October 31, 2020 ​ ​ — ​ $ — ​ ​ — ​ $ 5,000,000 November 1, 2020 to November 30, 2020 ​ 5,100 ​ 13.93 ​ 5,100 ​ 4,928,957 December 1, 2020 to December 31, 2020 ​ ​ 248,800 ​ ​ 14.32 ​ ​ 248,800 ​ ​ 1,366,141 Total ​ ​ 253,900 ​ $ 14.31 ​ ​ 253,900 ​ ​ ​ ​ ​ Item 6. Selected Financial Data Not required. ​ 35 Table of Contents