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Mercantile Bank (NASDAQ: MBWM) investors back directors, auditor and executive pay

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Mercantile Bank Corporation reported the results of its Annual Meeting of shareholders held on May 21, 2026. Shareholders elected twelve directors, each receiving over 10.6 million votes in favor, with relatively small withheld votes and 2,447,511 broker non-votes recorded for each nominee.

Shareholders also ratified the appointment of Plante & Moran, PLLC as the independent registered public accounting firm for 2026 with 13,471,113 votes for, 54,526 against, and 9,505 abstentions. In addition, an advisory vote to approve the compensation of named executive officers passed with 10,539,827 votes for, 323,243 against, 224,563 abstentions, and 2,447,511 broker non-votes.

Positive

  • None.

Negative

  • None.
Item 5.07 Submission of Matters to a Vote of Security Holders Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Auditor ratification votes for 13,471,113 votes Ratification of Plante & Moran, PLLC for 2026
Auditor ratification votes against 54,526 votes Ratification of Plante & Moran, PLLC for 2026
Say-on-pay votes for 10,539,827 votes Advisory vote on executive compensation
Say-on-pay votes against 323,243 votes Advisory vote on executive compensation
Say-on-pay abstentions 224,563 votes Advisory vote on executive compensation
Broker non-votes 2,447,511 votes Director elections and say-on-pay item
Example director support 10,917,759 votes for Election of director nominee Steven J. Schweihofer
broker non-votes financial
"Abstentions | Broker Non-Votes Michael S. Davenport | 10,862,640 ... | 2,447,511"
Broker non-votes occur when a brokerage firm is unable to vote on a shareholder’s behalf during a company election or decision because the shareholder has not given specific voting instructions, and the broker is not allowed or chooses not to vote on certain matters. They are important because they can affect the outcome of votes, especially when the results are close, by effectively reducing the total number of votes cast.
independent registered public accounting firm financial
"ratification of the appointment of Plante & Moran, PLLC as our independent registered public accounting firm for 2026"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
advisory vote financial
"The votes cast on the advisory vote to approve the compensation of our named executive officers"
An advisory vote is a shareholder poll that expresses investors’ approval or concern about a company’s policy, executive pay, board decisions or other governance matters but does not legally force the company to act. Think of it like a customer survey: it signals investor sentiment and can pressure management to change course, so investors watch the result as a guide to future governance, risk and potential shifts in strategy.
named executive officers financial
"compensation of our named executive officers disclosed in our proxy statement"
Named executive officers are the senior company leaders whose names, roles and compensation are singled out in required regulatory filings; this typically includes the chief executive, chief financial officer and the next highest‑paid senior officers. Investors treat this list like a team roster — it shows who makes key decisions, how they are paid and whether incentives align with shareholder interests, so changes or pay patterns can signal governance quality, risk or strategic shifts.
Understanding 8-K Material Events →
false 0001042729 0001042729 2026-05-21 2026-05-21
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (date of earliest event reported): May 21, 2026
 
 
Mercantile Bank Corporation
(Exact name of registrant as specified in its charter)
 
 
Michigan
000-26719
38-3360865
(State or other jurisdiction
 (Commission File
(IRS Employer
 of incorporation)
 Number)
 Identification Number)
 
 
310 Leonard Street NW, Grand Rapids, Michigan 49504
(Address of principal executive offices) (Zip Code)
   
Registrant's telephone number, including area code 616-406-3000
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
MBWM
The Nasdaq Stock Market LLC
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).                                                                Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.          ☐
 
 
 
 
Item 5.07
Submission of Matters to a Vote of Security Holders.
 
An annual meeting of our shareholders was held on May 21, 2026 (the “Annual Meeting”). At the Annual Meeting, our shareholders voted on each of the following three matters:
 
 
●
election of twelve directors, each for a one-year term;
 
 
●
 ratification of the appointment of Plante & Moran, PLLC as our independent registered public accounting firm for 2026; and
 
 
●
 an advisory vote to approve the compensation of our named executive officers disclosed in our proxy statement for the Annual Meeting.
 
The final vote results for each of these three matters is set forth below.
 
The votes cast on the election of directors were as follows:
 
Nominee
Votes For
Votes
Withheld
Abstentions
Broker
Non-Votes
Michael S. Davenport
10,862,640
224,992
0
 2,447,511
Michelle L. Eldridge
10,778,846
308,787
0
 2,447,511
Joseph D. Jones 10,891,612 196,021 0 2,447,511
Richard D. MacDonald 10,867,356 220,277 0 2,447,511
Michael H. Price
10,868,091
219,542
0
 2,447,511
David B. Ramaker
10,683,738
403,895
0
 2,447,511
Raymond E. Reitsma
10,872,717
214,916
0
 2,447,511
Nelson F. Sanchez 10,870,867 216,766 0 2,447,511
Sara A. Schmidt 10,912,834 174,799 0 2,447,511
Steven J. Schweihofer 10,917,759 169,874 0 2,447,511
Amy L. Sparks 10,864,136 223,497 0 2,447,511
Sharon R. Williams 10,893,589 194,044 0 2,447,511
 
The votes cast on the ratification of the appointment of Plante & Moran, PLLC as our independent registered public accounting firm for 2026 were as follows:
 
Votes For
Votes Against
Abstentions
13,471,113
54,526
9,505
 
 
The votes cast on the advisory vote to approve the compensation of our named executive officers disclosed in our proxy statement for the Annual Meeting were as follows:
 
Votes For
Votes Against
Abstentions
Broker Non-Votes
10,539,827
323,243
224,563
2,447,511
 
2
 
 
Item 9.01
Financial Statements and Exhibits.
 
(d) Exhibits.
 
Exhibit Number                    Description
 
104                  Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
 
Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Mercantile Bank Corporation
By:
/s/ Charles Christmas  
Charles E. Christmas
Executive Vice President, Chief
Financial Officer and Treasurer
 
Date: May 21, 2026
 
3

Source: View Original Filing on SEC EDGAR

FAQ

What did Mercantile Bank (MBWM) shareholders decide at the 2026 annual meeting?

Shareholders elected all director nominees and approved key proposals. Twelve directors were elected, the independent auditor for 2026 was ratified, and the advisory vote on executive compensation received strong support, indicating broad shareholder approval of the company’s governance and pay practices.

Were all Mercantile Bank (MBWM) director nominees elected in 2026?

Yes, all twelve director nominees were elected. Each nominee received more than 10.6 million votes for, with relatively few votes withheld and 2,447,511 broker non-votes reported for each, showing solid shareholder backing for the full board slate.

Did Mercantile Bank (MBWM) shareholders approve the 2026 auditor ratification?

Yes, shareholders ratified Plante & Moran, PLLC for 2026. The audit firm received 13,471,113 votes for, 54,526 against, and 9,505 abstentions, confirming shareholder support for the existing independent registered public accounting firm for the current fiscal year.

How did Mercantile Bank (MBWM) shareholders vote on executive compensation?

The advisory vote on executive compensation passed. Shareholders cast 10,539,827 votes for, 323,243 against, and 224,563 abstentions, with 2,447,511 broker non-votes, indicating shareholders generally supported the company’s named executive officer pay program disclosed for the annual meeting.

What were the broker non-votes at Mercantile Bank’s 2026 annual meeting?

Broker non-votes totaled 2,447,511 on certain items. This number appeared consistently for director elections and the advisory vote on executive compensation. Broker non-votes typically arise when brokers lack discretionary authority to vote on non-routine proposals without client instructions.

Filing Exhibits & Attachments

4 documents

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