Randall Tara M 4

What Happened

• Tara M. Randall, EVP & Chief Experience Officer of Mercantile Bank Corp (MBWM), had 1,500 shares disposed on 2025-12-19 to satisfy tax withholding obligations (1,500 @ $49.45 = $74,175).
• On 2026-02-05 she was granted two awards of restricted stock: 1,820 shares and 910 shares (total 2,730 shares) shown at $0.00 in the filing as performance-based restricted stock awards.

Key Details

• Transactions and prices:
  • 2025-12-19: Disposition for tax withholding — 1,500 shares @ $49.45 each, total $74,175 (code F = payment of exercise price or tax liability).
  • 2026-02-05: Two grants (code A = award/acquisition) — 1,820 shares and 910 shares, both reported at $0.00.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: Ownership totals include shares acquired via the issuer’s dividend reinvestment plan (DRIP) since the last report.
  • F2: The 2,730-share award is performance-based restricted stock and may be forfeited if performance metrics are not met.
• Timeliness: The Dec 19, 2025 withholding transaction was reported in a filing dated 2026-02-09 and therefore appears to have been filed late; the Feb 5, 2026 grants were reported on 2026-02-09 (timely for a Feb 5 grant).

Context

• The Dec 19 disposition is a routine tax-withholding event (shares withheld/retired to cover taxes) and does not necessarily indicate a voluntary sale.
• The Feb 5 entries are restricted stock awards (acquisitions) subject to performance conditions; such grants increase potential future ownership if vesting conditions are met.