[Form 4] FARMERS & MERCHANTS BANCORP Insider Trading Activity

Rhea-AI Filing Summary

Farmers & Merchants Bancorp director Kevin Sanguinetti reported a change in his shareholdings as of 12/18/2025. The filing shows a disposition coded as "D" of 952 shares of common stock, and indicates that he continues to beneficially own that amount directly.

In addition to the direct holding, he reports indirect ownership of 727 shares held by his spouse, 3,921 shares held in a personal trust where he serves as trustee, and 2,250 shares held by an LLC where he is a managing member, and he remains the beneficial owner of those securities. The total includes, as previously reported, a grant on February 3, 2025 of a restricted stock award of 147 shares of common stock that vests ratably over one year.

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^*

SANGUINETTI KEVIN

(Last) (First) (Middle)

9355 NINE BARK ROAD

(Street)

TRUCKEE CA 96161

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FARMERS & MERCHANTS BANCORP [ FMCB ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/18/2025

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

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

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

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								952(1)	D
Common Stock								727	I	Held by Spouse
Common Stock								3,921(2)	I	Held in a personal trust
Common Stock								2,250(3)	I	Held by a LLC

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. Includes, as previously reported, grants on February 3, 2025 to Reporting Person of a RSA of 147 shares of Issuer's common stock, which will vest ratably over a one (1) year term.

2. These shares of the Issuer's common stock held by the trust were previously reported as directly owned by the Reporting Person. The Reporting Person is a trustee of the trust. The Reporting Person remains the beneficial owner of the securities held by the trust.

3. These shares of the Issuer's common stock held by the LLC were previously reported as directly owned by the Reporting Person. The Reporting Person is a managing member of the LLC. The Reporting Person remains the beneficial owner of the securities held by the trust.

Remarks:

	Sanguinetti Kevin	12/18/2025
	** 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.

FAQ

What insider transaction did FMCB director Kevin Sanguinetti report?

Kevin Sanguinetti, a directordisposition coded "D" of 952 shares of the company's common stock dated 12/18/2025.

How many Farmers & Merchants Bancorp (FMCB) shares does the director hold directly after the reported transaction?

Following the reported transaction, Kevin Sanguinetti is shown as beneficially owning 952 shares of Farmers & Merchants Bancorp common stock directly.

What indirect FMCB shareholdings does Kevin Sanguinetti report?

He reports indirect beneficial ownership of 727 shares held by his spouse, 3,921 shares held in a personal trust where he is trustee, and 2,250 shares held by an LLC where he is a managing member.

How are the trust and LLC holdings in FMCB shares characterized?

The 3,921 shares in the personal trust and 2,250 shares in the LLC were previously reported as directly owned by Kevin Sanguinetti. He is trustee of the trust and a managing member of the LLC and remains the beneficial owner of these securities.

What restricted stock award (RSA) related to FMCB is disclosed for the director?

The explanation notes that the figures include a grant on February 3, 2025 to Kevin Sanguinetti of a restricted stock award of 147 shares of Farmers & Merchants Bancorp common stock, which will vest ratably over a one-year term.

What is the relationship of the reporting person to Farmers & Merchants Bancorp (FMCB)?

The reporting person, Kevin Sanguinetti, is identified as a director of Farmers & Merchants Bancorp.