Current Report Filing (8-k)
February 28 2019 - 4:19PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): February 28, 2019
SHORE BANCSHARES, INC.
(Exact name of registrant as specified in
its charter)
Maryland
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0-22345
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52-1974638
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(State or other jurisdiction of
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(Commission file number)
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(IRS Employer
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incorporation or organization)
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Identification No.)
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28969 Information Lane, Easton, Maryland
21601
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including
area code:
(410) 763-7800
N/A
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is
an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
¨
Item 5.02. Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the cessation of service
of Patrick M. Bilbrough as President of Shore United Bank, the wholly owned-subsidiary of Shore Bancshares, Inc. (the “Company”),
the Company paid Mr. Bilbrough a bonus amount, which consisted of (1) $48,676.00 for his annual incentive award under the 2018
Management Incentive Plan for the 2018 fiscal year period, and (2) 2,299 shares of the Company’s common stock for his long
term incentive award under the 2016-2018 Long Term Incentive Plan.
This amount represents
all outstanding monies and benefits owed to Mr. Bilbrough.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SHORE BANCSHARES, INC.
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Dated: February 28, 2019
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By:
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/s/ Lloyd L. Beatty, Jr.
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Lloyd L. Beatty, Jr.
President and Chief Executive Officer
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