What are the terms of the 7,559-share award to the MBWM CEO?

The 7,559-share grant is a performance-based restricted stock award. Some or all of these shares can be forfeited in the future if specified performance metrics are not met under the issuer’s restricted stock award agreement.

What indirect Mercantile Bank (MBWM) share holdings does the CEO report?

In addition to directly held shares, Raymond Reitsma reports 23,115 Mercantile Bank common shares in a 401(k) plan and 2,153 shares in an IRA. These are categorized as indirect beneficial ownership interests linked to his retirement accounts.

Mercantile Bank (MBWM) CEO awarded 11,338 shares of stock

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Mercantile Bank Corp President and CEO Raymond E. Reitsma reported stock awards that increased his holdings. On February 5, 2026, he acquired 7,559 shares of common stock under a performance-based restricted stock award that may be forfeited if performance metrics are not met, plus an additional 3,779 shares, both at $0 per share. Following these awards, he directly owned 66,502 common shares, with another 23,115 shares held in a 401(k) plan and 2,153 shares in an IRA.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Reitsma Raymond E.

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7,559	$0.00	--
Grant/Award	Common Stock	3,779	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 62,723 shares (Direct); Common Stock — 23,115 shares (Indirect, In 401(k) plan)

Footnotes (1)

This award of shares is being made pursuant to the Issuer's performance-based restricted stock award agreement, such that a portion or all of this award of restricted stock may be forfeited in the future if certain performance metrics are not met. Includes shares acquired pursuant to the Issuer's 401(k) Plan since last report of common stock ownership.

Form 4 Insider Transactions: What Each Field Means →

02/09/2026 - 06:52 PM

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^*

Reitsma Raymond E.

(Last)

(First)

(Middle)

C/O MERCANTILE BANK CORPORATION

310 LEONARD ST. NW

(Street)

GRAND RAPIDS

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
X	Officer (give title below)	Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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)
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	02/05/2026		A		7,559⁽¹⁾	A	$0	62,723	D
Common Stock	02/05/2026		A		3,779	A	$0	66,502	D
Common Stock								23,115⁽²⁾	I	In 401(k) plan
Common Stock								2,153	I	In 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:

1. This award of shares is being made pursuant to the Issuer's performance-based restricted stock award agreement, such that a portion or all of this award of restricted stock may be forfeited in the future if certain performance metrics are not met.

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	02/09/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did MBWM President and CEO Raymond Reitsma report?

Raymond Reitsma reported receiving additional Mercantile Bank Corp common stock. On February 5, 2026, he acquired 7,559 performance-based restricted shares and a further 3,779 shares at $0 per share, increasing his directly held stake in the company.

How many Mercantile Bank (MBWM) shares does the CEO own after this Form 4?

After the reported awards, Raymond Reitsma directly owns 66,502 Mercantile Bank common shares. He also holds 23,115 shares in the company’s 401(k) plan and 2,153 shares in an IRA, according to the beneficial ownership figures disclosed.

Were the newly acquired MBWM CEO shares purchased for cash?

No, the newly acquired shares were reported at a price of $0 per share. They represent stock awards to the President and CEO, not open-market purchases, reflecting equity-based compensation rather than a cash investment transaction.

Why might some of the MBWM CEO’s restricted shares be forfeited?

The Form 4 explains that the 7,559-share restricted award is performance-based. A portion or all of this restricted stock may be forfeited if certain performance metrics, defined in the award agreement, are not achieved in the future.