Director at Mercantile Bank (MBWM) receives 715-share stock grant

Rhea-AI Filing Summary

Schmidt Sara A reported acquisition or exercise transactions in this Form 4 filing.

Mercantile Bank Corp director Sara A. Schmidt received a grant of 715 shares of Common Stock on May 22, 2026. The shares were awarded at no cost per share and increased her directly held position to 1,684 shares. This appears to be a compensation-related equity award rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Schmidt Sara A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	715	$0.00	--

Holdings After Transaction: Common Stock — 1,684 shares (Direct)

Footnotes (1)

Key Figures

Shares granted: 715 shares Grant price: $0.00 per share Shares owned after transaction: 1,684 shares +1 more

4 metrics

Shares granted 715 shares Common Stock grant on May 22, 2026

Grant price $0.00 per share Reported transaction price for awarded shares

Shares owned after transaction 1,684 shares Direct Common Stock holdings after grant

Transactions acquiring shares 1 acquisition Transaction summary acquireCount

Key Terms

Common Stock, Grant, award, or other acquisition, Form 4

3 terms

Common Stock financial

"Sara A. Schmidt received a grant of 715 shares of Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Grant, award, or other acquisition financial

"transaction code description is Grant, award, or other acquisition"

Form 4 regulatory

"according to a new Form 4 filing"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 05/27/2026 - 04:23 PM Accepted by SEC EDGAR 05/27/2026 - 04:23 PM Learn about SEC filing dates

FAQ

What insider transaction did Mercantile Bank (MBWM) disclose for Sara A. Schmidt?

Mercantile Bank Corp reported that director Sara A. Schmidt received a grant of 715 shares of Common Stock on May 22, 2026. The award was recorded at a price of $0.00 per share, indicating a compensation-related stock grant rather than a market purchase.

How many Mercantile Bank (MBWM) shares does Sara A. Schmidt hold after this Form 4?

After the reported grant, director Sara A. Schmidt directly holds 1,684 shares of Mercantile Bank Corp Common Stock. This total reflects the newly acquired 715 shares added to her prior holdings and is shown as her direct ownership position following the transaction.

Was the May 22, 2026 MBWM insider transaction a stock purchase or a grant?

The May 22, 2026 transaction for Mercantile Bank Corp director Sara A. Schmidt is coded as “A”, meaning a grant, award, or other acquisition. It is classified as an acquire transaction, not an open-market purchase, and carries a reported price of $0.00.

Did Sara A. Schmidt pay anything for the 715 MBWM shares she acquired?

No cash payment is shown for this award. The 715 Mercantile Bank Corp shares were granted at a reported transaction price of $0.00 per share, which is typical for equity compensation grants to directors rather than shares bought in the open market.

Does the Form 4 show any sales or disposals of MBWM shares by Sara A. Schmidt?

The Form 4 indicates no sales or disposals by director Sara A. Schmidt on the reported date. The transaction summary shows one acquisition event and zero buy, sell, or dispose transactions, highlighting this as a straightforward stock grant.

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^*

Schmidt Sara A

(Last) (First) (Middle)

C/O MERCANTILE BANK CORPORATION

310 LEONARD ST. NW

(Street)

GRAND RAPIDS MICHIGAN 49504

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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	05/22/2026		A		715	A	$0	1,684	D

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:

	/s/ Adin J. Tarr, Attorney-in-Fact	05/27/2026
	** 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)