Mercantile Bank (MBWM) CFO reports new performance-based stock awards

Rhea-AI Filing Summary

Mercantile Bank Corporation EVP & CFO Charles E. Christmas reported new stock awards. On 02/05/2026 he acquired 2,829 shares of common stock under a performance-based restricted stock award agreement at a stated price of $0 per share, which may be forfeited if performance metrics are not met.

He also acquired an additional 1,414 common shares at $0 per share, bringing his directly held common stock to 72,222 shares. The filing also shows indirect holdings of 50,376 shares in a 401(k) plan and 2,581 shares held through his spouse’s retirement plans.

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

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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^*

CHRISTMAS CHARLES E

(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 & CFO

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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	02/05/2026		A		2,829(1)	A	$0	70,808	D
Common Stock	02/05/2026		A		1,414	A	$0	72,222	D
Common Stock								50,376(2)	I	In 401(k) plan
Common Stock								510(3)	I	By spouse IRA
Common Stock								2,071(3)	I	By spouse 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. 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.

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

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

	/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.
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FAQ

What did MBWM EVP & CFO Charles E. Christmas report in this Form 4?

He reported receiving new performance-based restricted stock awards. On 02/05/2026, he acquired 2,829 and 1,414 shares of Mercantile Bank common stock at a stated price of $0 per share, subject to future forfeiture if performance conditions are not satisfied.

How many MBWM shares does Charles E. Christmas own directly after this transaction?

He directly owns 72,222 shares of MBWM common stock. After the 02/05/2026 awards of 2,829 and 1,414 shares, the filing shows his total direct beneficial ownership at 72,222 common shares, separate from additional indirect holdings through retirement and spouse accounts.

What are the performance conditions mentioned for the MBWM restricted stock award?

The shares are subject to performance-based forfeiture conditions. The award is granted under a performance-based restricted stock agreement, and some or all of the shares may be forfeited in the future if specified performance metrics described in that agreement are not achieved.

What indirect MBWM shareholdings are reported for Charles E. Christmas?

The filing lists several indirect MBWM holdings. It shows 50,376 common shares held in a 401(k) plan, 510 shares in a spouse’s IRA, and 2,071 shares in a spouse’s 401(k) plan, reflecting retirement-related positions associated with the reporting person’s household.

Were any MBWM shares sold by Charles E. Christmas in this Form 4?

The Form 4 reports only acquisitions and holdings, not sales. All coded transactions on 02/05/2026 use code "A" for acquired, and remaining lines simply update indirect holdings in retirement and spouse accounts, with no disposition or sale transactions disclosed.