Was cash paid for the 830-share Mercantile Bank Corp grant to Michelle Larabee?

No cash changed hands for the 830-share grant; the per-share price is reported as $0.0000. This indicates a compensation-related stock award rather than an open-market purchase of Mercantile Bank Corp shares.

Mercantile Bank director receives 830-share stock grant

Mercantile Bank Corp director Michelle Larabee reported an equity grant of company stock.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Mercantile Bank Corp director Michelle Larabee reported an equity grant of company stock. She acquired 830 shares of Common Stock as a grant or award at a stated price of $0.0000 per share, increasing her direct holdings to 12,670 shares after the transaction on May 22, 2026. She also reported 6,750 shares held indirectly through an IRA, which reflects a separate ownership line rather than a new purchase or sale.

Insider Trade Summary

Grant/Award: 830 shares

Grant/Award 2 txns

Insider Eldridge Michelle Larabee

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	830	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 12,670 shares (Direct); Common Stock — 6,750 shares (Indirect, IRA)

Key Figures

Stock grant: 830 shares Grant price: $0.0000 per share Direct holdings after grant: 12,670 shares +2 more

5 metrics

Stock grant 830 shares Common Stock grant on May 22, 2026

Grant price $0.0000 per share Reported price for 830-share award

Direct holdings after grant 12,670 shares Common Stock directly owned post-transaction

Indirect IRA holdings 6,750 shares Common Stock held indirectly via IRA

Net buy/sell activity 0 shares transactionSummary netBuySellShares neutral

Key Terms

Common Stock, Grant, award, or other acquisition, IRA, indirect ownership

4 terms

Common Stock financial

"She acquired 830 shares of Common Stock as a grant or award"

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: Grant, award, or other acquisition"

IRA financial

"She also reported 6,750 shares held indirectly through an IRA"

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

indirect ownership financial

"The filing also shows 6,750 additional shares held indirectly through an IRA account"

FAQ

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

What did Mercantile Bank Corp (MBWM) director Michelle Larabee report in this Form 4?

She reported receiving 830 shares of Mercantile Bank Corp Common Stock as a grant or award. This non-cash acquisition increased her directly held shares to 12,670 following the transaction dated May 22, 2026.

How many Mercantile Bank Corp shares does Michelle Larabee hold after this grant?

After the grant, she directly holds 12,670 shares of Mercantile Bank Corp Common Stock. The filing also shows 6,750 additional shares held indirectly through an IRA account, listed as a separate ownership category.

What is the nature of Michelle Larabee’s indirect holdings in Mercantile Bank Corp (MBWM)?

Her indirect ownership consists of 6,750 Mercantile Bank Corp Common Stock shares held in an IRA. The Form 4 categorizes this position as indirect ownership, separate from her directly held 12,670 shares after the reported grant.

Does this Mercantile Bank Corp Form 4 show any stock sales by Michelle Larabee?

The Form 4 does not report any sales; it shows an acquisition of 830 shares as a grant and an IRA holding entry. Transaction summaries list no buy or sell shares, with net buy-sell activity described as neutral.

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

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Accepted by SEC EDGAR 05/27/2026 - 04:23 PM EDT

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^*

Eldridge Michelle Larabee

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/22/2026		A		830	A	$0	12,670	D
Common Stock								6,750	I	IRA

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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)

Source: View Original Filing on SEC EDGAR