Mercantile Bank EVP reports stock sale and awards

Mercantile Bank Corporation executive Brett Hoover, EVP & Chief HR Officer, reported multiple common stock transactions.

Rhea-AI Filing Summary

Mercantile Bank Corporation executive Brett Hoover, EVP & Chief HR Officer, reported multiple common stock transactions. On December 19, 2025, he disposed of 950 shares at $49.45 per share, leaving 15,688 shares directly held, which include shares acquired through the dividend reinvestment plan.

On February 5, 2026, Hoover received two stock awards: 1,888 restricted shares under a performance-based agreement, which may be forfeited if specified performance metrics are not met, and an additional 944 shares, both at a reported price of $0. After these awards, he directly owned 18,520 common shares, plus an indirect holding of 1,042 shares in the company’s 401(k) plan.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Hoover Brett

Role EVP & CHIEF HR OFFICER

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,888	$0.00	$0.00
Grant/Award	Common Stock	944	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	950	$49.45	$47K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 18,520 shares (Direct); Common Stock — 1,042 shares (Indirect, In 401(k) plan)

Footnotes (3)

1. F1. Includes shares acquired since last report of common stock ownership by reinvesting cash dividends under the Issuer's dividend reinvestment plan.
2. F2. This award of shares is being made pursuant to the Issuer's performance-based restricted stock award agreement, such that a portion or all of this award of restricted stock may be forfeited in the future if certain performance metrics are not met.
3. F3. Includes shares acquired pursuant to the Issuer's 401(k) Plan since last report of common stock ownership.

FAQ

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

What insider transactions did MBWM executive Brett Hoover report?

Brett Hoover reported one sale and two awards of Mercantile Bank common stock. He disposed of 950 shares at $49.45 on December 19, 2025, and received awards of 1,888 and 944 shares on February 5, 2026, both reported at $0 per share.

How many MBWM shares does Brett Hoover own after these transactions?

After the reported transactions, Brett Hoover directly owns 18,520 MBWM common shares. He also has an indirect holding of 1,042 shares through the company’s 401(k) plan, reflecting accumulated ownership from prior awards, dividend reinvestment, and retirement plan contributions.

What is notable about the 1,888-share MBWM stock award to Brett Hoover?

The 1,888-share award is performance-based restricted stock. According to the disclosure, some or all of these shares may be forfeited in the future if certain performance metrics specified in the issuer’s performance-based restricted stock award agreement are not met.

What does the Form 4 show about Brett Hoover’s MBWM 401(k) holdings?

The Form 4 reports 1,042 MBWM shares held indirectly in a 401(k) plan. The footnote explains this figure includes shares acquired through the issuer’s 401(k) plan since the last common stock ownership report, separate from his directly held shares.

How were dividend reinvestments reflected in Brett Hoover’s MBWM holdings?

Part of Hoover’s reported holdings comes from dividend reinvestment. A footnote states that his common stock total includes shares acquired since the last report by reinvesting cash dividends under Mercantile Bank’s dividend reinvestment plan, increasing his direct ownership over time.

What role does Brett Hoover hold at Mercantile Bank Corporation (MBWM)?

Brett Hoover is Mercantile Bank Corporation’s EVP & Chief HR Officer. The Form 4 identifies him as an officer, not a director or 10% owner, and reports his beneficial ownership and recent transactions in the company’s common stock in that capacity.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/09/2026 - 06:27 PM 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^*

Hoover Brett

(Last) (First) (Middle)

C/O MERCANTILE BANK CORPORATION

310 LEONARD ST. NW

(Street)

GRAND RAPIDS MI 49504

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MERCANTILE BANK CORP [ MBWM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & CHIEF HR OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
12/19/2025

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	12/19/2025		F		950	D	$49.45	15,688(1)	D
Common Stock	02/05/2026		A		1,888(2)	A	$0	17,576	D
Common Stock	02/05/2026		A		944	A	$0	18,520	D
Common Stock								1,042(3)	I	In 401(k) plan

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 shares acquired since last report of common stock ownership by reinvesting cash dividends under the Issuer's dividend reinvestment plan.

2. This award of shares is being made pursuant to the Issuer's performance-based restricted stock award agreement, such that a portion or all of this award of restricted stock may be forfeited in the future if certain performance metrics are not met.

3. Includes shares acquired pursuant to the Issuer's 401(k) Plan since last report of common stock ownership.

	/s/ Bradley J. Wyatt, Attorney-in-Fact	02/09/2026
	** 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.