FARMERS & MERCHANTS (FMAO) Chairman Kevin Sauder Receives Award

What Happened
Kevin J. Sauder, Director and Chairman of the Board of Farmers & Merchants Bancorp, received an award of 263 shares on 2026-09-18. The shares were recorded at $35.67 each, for a total value of approximately $9,381. This transaction is an award/compensation issuance (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-09-18; Form 4 filed 2026-09-21 (timely filing).
• Transaction type/code: Award/other acquisition (A).
• Shares awarded: 263; price per share: $35.67; total value ≈ $9,381.
• Shares owned after transaction: not specified in the provided filing summary.
• Footnote: F1 — Represents one-half of this Director's compensation for July, August, & September 2026.
• No indication this was an option exercise, sale, gift, or a 10b5-1 plan transaction.

Context
This is routine director compensation issued in shares. Such awards are common and reflect pay structure rather than a direct buy/sell signal about the company's short-term stock outlook. Purchases by insiders can be more informative about confidence; awards usually reflect governance/compensation practices.