Conditional formatting formula involving a character string in another cell.

Here's my problem. I am trying to do conditional formatting, where let's say cell B4 prints the same text that is located in cell M3. This text right now is a name, but this name is subject to change because this is a scheduling tool and the staff will of course change. How can I use the conditional formatting tool in Excel 2007 with regards to the formula option so that when B4 matches the text in cell M3, whatever that text might be whether it's Steve or Bob etc, it formats it with the same color every time. I have done quite a bit with conditional formatting already so I know this is easy if the text stays the same. Help is much appreciated, thanks!

I'm new to this forum and I don't know if my first comment went through but thank you very much! I'm new to formulas within conditional formatting so this is very helpful!

O.K. so I thought this was the solution but I need to apply this conditional formatting to a group of cells. I tried doing =$H$4:$L$31=$M$53 to get all the cells between H4 and L31 that have the same text as M53 to have a green background. Unfortunately what it did instead was highlight all cells green even if let's say just the first one had the matching text. Any ideas?

Nevermind, I removed the $'s in front of the ranges.