secwatch.observer — SEC 8-K summary
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Issuer:     SHORE BANCSHARES INC (SHBI)
CIK:        0001035092
Form:       8-K
Filed at:   2025-12-17T23:59:59+00:00
Accession:  0001035092-25-000026
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shore Bancshares CEO, CFO, COO enter change-in-control severance plan with 2-3x multipliers
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- CEO James M. Burke has a severance multiplier of 3; CFO Cullum and COO Stevens have a multiplier of 2.
- Severance equals multiplier times (base salary plus target bonus) payable in a lump sum plus COBRA premiums.
- Burke subject to 1-year non-compete and non-solicit; Cullum and Stevens subject to 1-year non-solicit only.
- Qualifying Termination includes involuntary termination without cause or resignation for good reason within 24 months post-change-in-control.
- Plan consolidates prior severance arrangements and replaces any other change-in-control severance agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035092/000103509225000026/0001035092-25-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035092/000103509225000026/shbi-20251217.htm
  HTML page:      https://secwatch.observer/filing/0001035092-25-000026

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