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Director Davenport receives 753-share stock award at Mercantile Bank (NASDAQ: MBWM)

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Mercantile Bank Corp director Michael S. Davenport reported a stock award and updated holdings. On 2026-05-22, he received a grant of 753 shares of Common Stock at $0.00 per share as a compensation-related award, bringing his direct ownership to 9,594 shares.

He also reported indirect ownership of 1,800 Common Stock shares held in an IRA. A footnote states this indirect position includes shares acquired since his last ownership report through reinvested cash dividends under the company’s dividend reinvestment plan. The filing reflects routine equity compensation and ongoing dividend reinvestment rather than open-market buying or selling.

Positive

  • None.

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Insider Davenport Michael S.
Role null
Type Security Shares Price Value
Grant/Award Common Stock 753 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 9,594 shares (Direct, null); Common Stock — 1,800 shares (Indirect, IRA)
Footnotes (1)
  1. [object Object]
Stock award 753 shares Grant/award of Common Stock on 2026-05-22
Award price $0.00 per share Price for 753-share grant/award
Direct holdings after award 9,594 shares Direct Common Stock owned following transaction
Indirect IRA holdings 1,800 shares Common Stock held indirectly in IRA, including dividend reinvestment
Award transaction code Code A Grant, award, or other acquisition of Common Stock
dividend reinvestment plan financial
"Includes shares acquired since last report ... by reinvesting cash dividends under the Issuer's dividend reinvestment plan."
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
Common Stock financial
"security_title": "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 acquisition financial
"transaction_action": "grant/award acquisition""
indirect financial
""ownership_type": "indirect""
IRA financial
""nature_of_ownership": "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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Davenport Michael S.
(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)
XDirector10% 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)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock05/22/2026A753A$09,594(1)D
Common Stock1,800IIRA
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Includes shares acquired since last report of common stock ownership by reinvesting cash dividends under the Issuer's dividend reinvestment plan.
/s/ Adin J. Tarr, Attorney-in-Fact05/27/2026
** Signature of Reporting PersonDate
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

FAQ

What did Michael S. Davenport report in this Form 4 for MBWM?

He reported receiving a grant of 753 shares of Mercantile Bank Corp Common Stock as a compensation-related award and updated his indirect IRA holdings, which include shares from the dividend reinvestment plan.

How many Mercantile Bank (MBWM) shares does Davenport now hold directly?

After the reported award, Michael S. Davenport directly holds 9,594 shares of Mercantile Bank Corp Common Stock. This reflects his ownership position following the 753-share grant at no cash cost per share.

What indirect MBWM holdings does Davenport report in his IRA?

He reports 1,800 shares of Mercantile Bank Corp Common Stock held indirectly through an IRA. A footnote explains this balance includes shares accumulated by reinvesting cash dividends under the company’s dividend reinvestment plan.

Was Davenport’s MBWM stock transaction an open-market purchase or sale?

No, the Form 4 shows a grant or award acquisition of 753 shares at a price of $0.00 per share, not an open-market trade. It represents equity compensation rather than discretionary buying or selling in the market.

What is the significance of the dividend reinvestment plan mentioned for MBWM?

The footnote states his IRA position includes shares acquired by reinvesting cash dividends under Mercantile Bank’s dividend reinvestment plan. This indicates part of the indirect holdings grew automatically through dividend reinvestment since his last ownership report.