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 1, 2023, the Company had approximately 1,916 registered holders of record. Shareholders received quarterly cash dividends on shares of common stock totaling $9.5 million in 2022 and $6.6 million in 2021. Dividends remained at $0.12 for the entire year of 2022. 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, although future dividend increases must be approved by TCFC prior to the planned merger in accordance with agreement and plan of merger signed December 14, 2022. 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 provides information as of December 31, 2022, with respect to options outstanding and shares available for future awards under the Company’s active equity incentive plans. ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 — — 499,870 ​ ​ ​ ​ ​ ​ ​ Equity compensation plans not approved by security holders — — — ​ ​ ​ ​ Total — — 499,870 ​ 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 2023 Annual Meeting of Stockholders entitled “Beneficial Ownership of Common Stock”. ​ ​ 36 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 2022. ​ The Company announced a new stock repurchase program that was approved on July 6, 2022. Under the new stock repurchase program, the Company is authorized to repurchase up to $5.0 million of the Company’s Common Stock, representing approximately 1.4% of its issued and outstanding Common Stock based on the closing price of the Company’s Common Stock on July 5, 2022. The program may be limited or terminated at any time without prior notice. The program will expire March 31, 2023. There were no 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 2022. ​ ​ Item 6. Reserved ​ ​ 37 Table of Contents