Baker Andrew S 4

What Happened

• Andrew S. Baker, SVP & Chief Strategy Officer of Farmers & Merchants Bancorp (FMAO), was granted 1,722 restricted shares on 2026-03-02 at an indicated value of $25.86 per share (total ~ $44,531). To cover tax withholding, 90 shares were repurchased by the company at the same per-share value (90 x $25.86 = $2,327), resulting in a net delivery of restricted stock.

Key Details

• Transaction dates: 2026-03-02 (award and tax withholding).
• Grant (A): 1,722 restricted shares @ $25.86, value ≈ $44,531.
• Tax withholding (F): 90 shares repurchased by the company @ $25.86, value ≈ $2,327.
• Shares owned after the transaction: Not specified in the Form 4 filing.
• Footnotes: F1 notes 90 shares were repurchased by the company to cover taxes calculated on 1,300 shares that vested 3/1/26; F2 confirms these were restricted stock awards under the company’s Long-Term Stock Incentive Plan.
• Filing timeliness: Form 4 was filed 2026-03-11 for a 2026-03-02 transaction (appears late relative to the usual 2-business-day reporting requirement).

Context

• This was a restricted stock award (grant) with routine company withholding of shares to cover tax obligations — a common administrative step that does not necessarily signal a change in insider sentiment. No option exercises or open-market purchases/sales beyond the withholding occurred.