Eller Lars B 4

What Happened Lars B. Eller, President & CEO and a director of Farmers & Merchants Bancorp (FMAO), had 1,140 shares repurchased by the company to satisfy tax withholding related to recently vested awards. The repurchase was reported as a disposition at $25.86 per share, totaling $29,480. This was a tax-withholding transaction (code F), not an open-market sale or a discretionary sale by the insider.

Key Details

• Transaction date: 2026-03-02
• Action/type: Tax withholding / company repurchase to satisfy tax liability (code F)
• Shares repurchased (disposed): 1,140 shares at $25.86 per share, total $29,480
• Reason cited: Taxes calculated on 4,800 shares that vested on 2026-03-01 under the company's Long Term Incentive Plan; 1,140 shares withheld to cover federal, state, and local taxes (Footnote F1)
• Shares owned after the transaction: Not specified in the Form 4 filing
• Filing timeliness: No late filing flag indicated in the provided data

Context This was a standard tax-withholding/repurchase tied to a vesting event (4,800 shares vested 3/1/2026). Such transactions are routine and are performed by the company to cover tax obligations rather than representing a voluntary sale by the insider. For retail investors, tax-withholding repurchases generally do not signal management’s view on the company’s stock price.