[Form 4] Mercantile Bank Corp Insider Trading Activity

Rhea-AI Filing Summary

Mercantile Bank Corp. (MBWM) – Form 4 insider filing

Director Michelle Larabee Eldridge reported the acquisition of 34 common shares on 17 Jul 2025. The filing lists the transaction code “A,” indicating an award or other acquisition at $0.00 per share rather than an open-market purchase. Following the grant, Eldridge now owns 11,840 shares directly. She also reports 6,750 shares held indirectly through an IRA. No derivative securities were involved and no sales were reported.

The size of this transaction is immaterial relative to the company’s outstanding shares and does not materially change the insider’s ownership stake. No other events, financial metrics or strategic disclosures accompany the filing.

Insights

Securities Analyst

TL;DR: Small, routine stock grant; neutral impact.

The Form 4 shows a token 34-share award to a director at no cost, lifting direct holdings to 11,840 shares. With no purchase price and no sales, it signals board-level equity alignment but is non-material for investors. No derivatives or unusual activity noted. I classify the filing as routine and unlikely to influence MBWM’s valuation or trading dynamics.

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).

1. Name and Address of Reporting Person^*

Eldridge Michelle Larabee

(Last) (First) (Middle)

C/O MERCANTILE BANK CORPORATION

310 LEONARD ST.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

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	07/17/2025		A		34	A	$0	11,840	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Bradley J. Wyatt, Attorney-in-Fact	07/21/2025
	** 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.

FAQ

What insider transaction was reported for MBWM on 17 Jul 2025?

Director Michelle Larabee Eldridge acquired 34 common shares according to the Form 4.

How many Mercantile Bank Corp. shares does Eldridge own after the transaction?

She holds 11,840 shares directly and 6,750 shares indirectly through an IRA.

Was the acquisition an open-market purchase?

No. The transaction code “A” and $0.00 price indicate an award or grant, not a market buy.

Were any derivative securities involved in this filing?

No derivative securities were acquired or disposed of; only common stock was reported.

Does the filing suggest a significant ownership change at MBWM?

No. The 34-share grant is immaterial relative to both Eldridge’s stake and MBWM’s total shares outstanding.