ChoiceOne CEO receives stock grant, tax shares withheld

ChoiceOne Financial Services director and Chief Executive Officer Kelly Potes reported routine equity compensation and related share adjustments.

Rhea-AI Filing Summary

ChoiceOne Financial Services director and Chief Executive Officer Kelly Potes reported routine equity compensation and related share adjustments. On April 30, 2026, Potes received a grant of 4,416 shares of common stock at no cost as a contingent right that will vest in full on April 30, 2029. In connection with the conversion of stock units granted April 30, 2023, 450 shares were withheld at $30.03 per share to satisfy tax obligations rather than sold on the market. A footnote also notes the acquisition of 791.8086 shares under the ChoiceOne Financial Services, Inc. Employee Stock Purchase Plan. After these transactions, Potes directly owned 42,048.6068 common shares and indirectly held 6,890 shares through an IRA.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Potes Kelly

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	450	$30.03	$14K
Grant/Award	Common Stock	4,416	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 47,256.4154 shares (Direct); Common Stock — 6,890 shares (Indirect, IRA)

Footnotes (3)

1. F1. Shares forfeited upon conversion of stock units granted April 30, 2023 to common stock.
2. F2. Reports the grant of the contingent right to receive shares of common stock which will vest in full on April 30, 2029.
3. F3. Column 5 reflects the acquisition of 791.8086 shares under the ChoiceOne Financial Services, Inc. Employee Stock Purchase Plan.

Key Figures

Stock grant: 4,416 shares Grant price: $0.0000 per share Tax-withheld shares: 450 shares +5 more

8 metrics

Stock grant 4,416 shares Contingent right to common stock granted April 30, 2026

Grant price $0.0000 per share Price per share for 4,416-share grant

Tax-withheld shares 450 shares Shares withheld to cover tax obligations at $30.03

Tax withholding price $30.03 per share Value used for 450-share tax-withholding disposition

Direct holdings after 42,048.6068 shares Direct common stock ownership following transactions

Indirect IRA holdings 6,890 shares Common stock held indirectly through an IRA

ESPP acquisition 791.8086 shares Shares acquired under Employee Stock Purchase Plan

Vesting date April 30, 2029 Full vesting date for 4,416-share contingent right

Key Terms

tax-withholding disposition, contingent right, Employee Stock Purchase Plan, IRA

4 terms

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

contingent right financial

"Reports the grant of the contingent right to receive shares of common stock"

Employee Stock Purchase Plan financial

"acquisition of 791.8086 shares under the ChoiceOne Financial Services, Inc. Employee Stock Purchase Plan"

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

IRA financial

"indirect ownership type noted as IRA"

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did COFS CEO Kelly Potes report in this Form 4 filing?

Kelly Potes reported a routine equity compensation event, including a grant of 4,416 ChoiceOne Financial Services common shares and tax-related share withholding, along with updated direct and indirect share ownership totals disclosed for regulatory transparency.

How many COFS shares were granted to CEO Kelly Potes?

Kelly Potes received a grant of 4,416 ChoiceOne Financial Services common shares at no cost. This grant is a contingent right that will vest in full on April 30, 2029, aligning his compensation with long-term shareholder interests.

Why were 450 COFS shares disposed of at $30.03 in this filing?

The filing shows 450 ChoiceOne shares disposed of at $30.03 each to cover tax obligations. This is a tax-withholding disposition related to the conversion of earlier stock units, not an open-market sale initiated for portfolio or valuation reasons.

What is Kelly Potes’ COFS share ownership after these transactions?

After the reported transactions, Kelly Potes directly owned 42,048.6068 ChoiceOne common shares and indirectly held 6,890 shares in an IRA. These updated totals reflect the new grant, tax withholding, and prior plan-related acquisitions noted in the footnotes.

When will the newly granted COFS shares to Kelly Potes vest?

The contingent right granted to Kelly Potes will vest in full on April 30, 2029. At that time, the 4,416 ChoiceOne common shares associated with this award become fully earned, reinforcing a long-term incentive structure for the company’s chief executive officer.

What role did the Employee Stock Purchase Plan play in this COFS filing?

A footnote states that the reported holdings include 791.8086 shares acquired under the ChoiceOne Financial Services Employee Stock Purchase Plan. This plan allows employees, including executives, to accumulate company stock through structured, programmatic purchases over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 05:31 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Potes Kelly

(Last) (First) (Middle)

109 EAST DIVISION STREET

(Street)

SPARTA MICHIGAN 49345

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CHOICEONE FINANCIAL SERVICES INC [ COFS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/30/2026		F		450	D	$30.03	42,048.6068(1)	D
Common Stock	04/30/2026		A		4,416	A	$0	47,256.4154(2)(3)	D
Common Stock								6,890	I	IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares forfeited upon conversion of stock units granted April 30, 2023 to common stock.

2. Reports the grant of the contingent right to receive shares of common stock which will vest in full on April 30, 2029.

3. Column 5 reflects the acquisition of 791.8086 shares under the ChoiceOne Financial Services, Inc. Employee Stock Purchase Plan.

	/s/ Christian D. Rhoades, by Power of Attorney	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)