(TCFC)

Role: EVP & Chief Financial Officer
Signature: /s/ Christy Lombardi, Power of Attorney
Stock symbol: TCFC
Transactions as of: Jul 1, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/3/2023, 03:06 PM
Previous filing: May 15, 2023
Next filing: Aug 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Ownership	Footnotes
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-9.68K	-100%	$0.00^*	Jul 1, 2023	Direct	F1
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-1.97K	-100%	$0.00^*	Jul 1, 2023	By ESOP	F1
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-236	-100%	$0.00^*	Jul 1, 2023	By Restricted Stock Units	F2
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-167	-100%	$0.00^*	Jul 1, 2023	By Restricted Stock Units II	F2
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-228	-100%	$0.00^*	Jul 1, 2023	By Restricted Stock Units III	F2
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-282	-100%	$0.00^*	Jul 1, 2023	By Restricted Stock Units IV	F2
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-439	-100%	$0.00^*	Jul 1, 2023	By Restricted Stock Units V	F2
transaction	TCFC	Common Stock	Disposed to Issuer	$0	-1.41K	-100%	$0.00^*	Jul 1, 2023	By Spouse 401(k)	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Todd L. Capitani is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Disposed of in connection with the Agreement and Plan of Merger by and among the Issuer and Shore Bancshares, Inc. ("SHBI"), dated December 14, 2022 (the "Merger Agreement"), pursuant to which the Issuer was merged with and into SHBI on July 1, 2023 (the "Effective Time"). Pursuant to the Merger Agreement, as of the Effective Time, each issued and outstanding share of the Issuer's common stock was converted into the right to receive 2.3287 shares of SHBI common stock (the "Exchange Ratio") and cash in lieu of fractional shares. On June 30, 2023, the closing price of TCFC's common stock was $27.09 per share and the closing price of SHBI's common stock was $11.56 per share.
F2	At the Effective Time of the merger, pursuant to the terms of the Merger Agreement, each Issuer Restrictive Stock Unit was converted into a time-based restricted stock unit denominated in shares of SHBI common stock based on the Exchange Ratio (rounded to the nearest whole share) ("SHBI RSUs") and remain subject to the same terms and conditions as applied immediately prior to the Effective Time.

Content

Disposed of in connection with the Agreement and Plan of Merger by and among the Issuer and Shore Bancshares, Inc. ("SHBI"), dated December 14, 2022 (the "Merger Agreement"), pursuant to which the Issuer was merged with and into SHBI on July 1, 2023 (the "Effective Time"). Pursuant to the Merger Agreement, as of the Effective Time, each issued and outstanding share of the Issuer's common stock was converted into the right to receive 2.3287 shares of SHBI common stock (the "Exchange Ratio") and cash in lieu of fractional shares. On June 30, 2023, the closing price of TCFC's common stock was $27.09 per share and the closing price of SHBI's common stock was $11.56 per share.

At the Effective Time of the merger, pursuant to the terms of the Merger Agreement, each Issuer Restrictive Stock Unit was converted into a time-based restricted stock unit denominated in shares of SHBI common stock based on the Exchange Ratio (rounded to the nearest whole share) ("SHBI RSUs") and remain subject to the same terms and conditions as applied immediately prior to the Effective Time.