CHRISTMAS CHARLES E 4
4 · MERCANTILE BANK CORP · Filed Feb 9, 2026
Research Summary
AI-generated summary of this filing
Mercantile Bank (MBWM) CFO Charles Christmas Receives Award
What Happened
Charles E. Christmas, Executive Vice President & CFO of Mercantile Bank Corp. (MBWM), was granted a total of 4,243 restricted shares (2,829 + 1,414) on February 5, 2026. The awards were reported on a Form 4 filed Feb 9, 2026 and were granted at $0 per share (code A — award/grant). These are compensation awards rather than open-market purchases or sales.
Key Details
- Transaction date: 2026-02-05; Filing date: 2026-02-09 (filed within the SEC two-business-day window).
- Grants: 2,829 shares and 1,414 shares, both at $0.00 per share (total granted = 4,243 shares).
- Shares owned after transaction: Not specified in the provided excerpt of the filing.
- Footnotes of note:
- F1: Awards are performance-based restricted stock and may be forfeited if performance metrics are not met.
- F2: Notes inclusion of shares acquired via the issuer's 401(k) plan since last report.
- F3: Notes inclusion of shares acquired via dividend reinvestment since last report.
- Transaction code: A (award/grant).
Context
Performance-based restricted stock is typically compensation and can be forfeited if designated targets aren't achieved; grants at $0 reflect that these are awards, not cash purchases. Such awards increase potential insider exposure to company stock over time but do not necessarily signal a personal buy/sell decision.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-05+2,829→ 70,808 total - Award
Common Stock
2026-02-05+1,414→ 72,222 total
- 50,376(indirect: By 401(k))
Common Stock
[F2] - 510(indirect: By Spouse)
Common Stock
[F3] - 2,071(indirect: By Spouse)
Common Stock
[F3]
Footnotes (3)
- [F1]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.
- [F2]Includes shares acquired pursuant to the Issuer's 401(k) Plan since last report of common stock ownership.
- [F3]Includes shares acquired since last report of common stock ownership by reinvesting cash dividends under the Issuer's dividend reinvestment plan.