RAMAKER DAVID B 4

What Happened
David B. Ramaker, a director of Mercantile Bank Corp (MBWM), was granted 801 shares on May 22, 2026. The Form 4 reports the transaction as an award/grant (transaction code A) with an acquisition price of $0.00, so the filing shows a reported cash value of $0.00. This is an acquisition by award (compensation-related) rather than an open-market purchase or a sale.

Key Details

• Transaction date: 2026-05-22
• Filing date: 2026-05-27 (filed 5 days after the transaction) — appears to be a late filing relative to the usual two-business-day requirement.
• Transaction type/code: Award/Grant (A)
• Shares granted: 801 shares
• Price reported: $0.00; reported cash value: $0.00
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes/plans: No 10b5-1 plan, tax-withholding, or other footnotes provided in the supplied summary.

Context
Grants reported at $0.00 typically reflect shares awarded as compensation (e.g., restricted stock or other director compensation) rather than a cash purchase. Such awards are common for directors and do not, by themselves, indicate a buy/sell signal from the insider. Note that the apparent late filing reduces the timeliness of disclosure — timely Form 4s improve transparency for investors.