Mercantile Bank CFO gets stock award, withholds shares

Mercantile Bank Corp EVP & CFO Charles E. Christmas reported both an equity award and a related tax-withholding share disposition in common stock.

Rhea-AI Filing Summary

Mercantile Bank Corp EVP & CFO Charles E. Christmas reported both an equity award and a related tax-withholding share disposition in common stock. On February 15, 2026, he acquired 1,326 fully-vested shares at no cost as an award for exceeding performance metrics under a December 15, 2022 performance-based restricted stock agreement.

On February 17, 2026, he disposed of 3,021 shares of common stock at $54.2353 per share in a tax-withholding transaction used to satisfy liabilities by delivering shares, rather than an open-market sale. After these transactions, he directly owns 70,527 shares of common stock and has additional indirect holdings of 50,392 shares in his 401(k) plan, 510 shares in his spouse's IRA, and 2,071 shares in his spouse's 401(k) plan.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider CHRISTMAS CHARLES E

Role EVP & CFO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	3,021	$54.2353	$164K
Grant/Award	Common Stock	1,326	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 70,527 shares (Direct); Common Stock — 50,392 shares (Indirect, In 401(k) plan); Common Stock — 510 shares (Indirect, By spouse IRA); Common Stock — 2,071 shares (Indirect, By spouse 401(k) plan)

Footnotes (2)

1. F1. This award of fully-vested shares is being made for exceeding certain performance metrics pursuant to the Issuer's December 15, 2022 performance-based restricted stock award agreement.
2. F2. 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 CFO Charles E. Christmas report?

Charles E. Christmas reported a stock award and a related tax-withholding share disposition. He received 1,326 fully-vested common shares for exceeding performance metrics, then used 3,021 shares in a tax-withholding transaction to cover liabilities, rather than executing an open-market sale.

How many Mercantile Bank (MBWM) shares were awarded to the CFO?

The CFO received an award of 1,326 fully-vested common shares. The award was granted on February 15, 2026 for exceeding certain performance metrics under Mercantile Bank’s December 15, 2022 performance-based restricted stock award agreement, and carried no purchase price per share.

Was the MBWM CFO’s Form 4 transaction an open-market stock sale?

No, the Form 4 shows a tax-withholding disposition of 3,021 shares, not an open-market sale. The transaction, coded "F," indicates shares were delivered to satisfy tax liabilities at $54.2353 per share following an equity award, rather than sold in the market.

What is Charles E. Christmas’s direct ownership in MBWM after these transactions?

After the reported transactions, Charles E. Christmas directly owns 70,527 shares of Mercantile Bank common stock. This figure reflects both the 1,326-share performance award and the 3,021-share tax-withholding disposition reported in the Form 4 insider filing.

What indirect MBWM holdings does the CFO report in retirement and spouse accounts?

In addition to direct holdings, the CFO reports 50,392 shares held through his 401(k) plan, 510 shares in his spouse’s IRA, and 2,071 shares in his spouse’s 401(k) plan. These indirect positions are disclosed separately from his directly owned common stock.

What do the footnotes in the MBWM Form 4 filing explain about the award?

The footnotes explain the 1,326-share award was fully vested and granted for exceeding performance metrics. It was issued under Mercantile Bank’s December 15, 2022 performance-based restricted stock award agreement and includes shares acquired through the issuer’s 401(k) plan since the last ownership report.

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

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Accepted by SEC EDGAR 02/18/2026 - 04:48 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^*

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)
02/15/2026

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	02/15/2026		A		1,326(1)	A	$0	73,548	D
Common Stock	02/17/2026		F		3,021	D	$54.2353	70,527	D
Common Stock								50,392(2)	I	In 401(k) plan
Common Stock								510	I	By spouse IRA
Common Stock								2,071	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 fully-vested shares is being made for exceeding certain performance metrics pursuant to the Issuer's December 15, 2022 performance-based restricted stock award agreement.

2. 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	02/18/2026
	** 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.