Farmers & Merchants Bancshares Amends Equity Plan, Adds 200K Shares

What Happened

• Farmers & Merchants Bancshares, Inc. announced on April 28, 2026 that its Board amended and restated the company's 2023 Equity Compensation Plan to authorize an additional 200,000 shares of common stock.
• The amendment brings the total number of shares available under the Plan to 230,000 shares of common stock, par value $0.01 per share. The amended and restated Plan was filed as Exhibit 10.1 with the 8-K.

Key Details

• Date of amendment: April 28, 2026.
• Additional shares authorized: 200,000.
• New total shares authorized under the Plan: 230,000 common shares (par value $0.01).
• Amended and Restated 2023 Equity Compensation Plan filed as Exhibit 10.1 in the Form 8-K.

Why It Matters

• The change increases the pool of shares the company can grant as stock awards to employees, directors or consultants, which management can use for retention and incentive compensation.
• If awarded and issued, these shares would dilute existing shareholders’ ownership and could affect per-share metrics; the filing documents the company’s formal authorization to make such awards.