X0206 3 2020-05-05 0 0000832090 DELMAR BANCORP DBCP 0001529607 Sothen James Adam C/O DELMAR BANCORP 2245 NORTHWOOD DRIVE SALISBURY MD 21801 0 1 0 0 Chief Financial Officer Stock Option (right to buy) 7.72 2028-04-16 Common Stock 25768 D The option was originally exercisable in three equal annual installments on April 16, 2019, April 16, 2020, and April 16, 2021; however, the option became fully exercisable at the effective time of the Share Exchange (as defined below). The option reported herein is an option to purchase common stock of the Issuer. On November 15, 2019, Virginia Partners Bank ("Partners") was acquired by the Issuer through an exchange of shares in an all-stock transaction (the "Share Exchange"), in which each share of Partners common stock was exchanged for 1.7179 shares of Issuer common stock. At the effective time of the Share Exchange, each outstanding option to purchase shares of common stock of Partners was assumed by the Issuer and converted into an option to purchase shares of the Issuer's common stock, and the exercise price for each option was correspondingly adjusted. The number of shares reflects the Reporting Person's holdings following such conversion, and the exercise price reflects the exercise price following such conversion. J. Adam Sothen 2020-05-05