Sanchez Nelson F 4

What Happened
Nelson F. Sanchez, a director of Mercantile Bank Corp (MBWM), was reported to have acquired 715 shares on May 22, 2026. The filing shows an acquisition code "A" (grant/award/other acquisition) with an acquisition price of $0.00 and a reported value of $0. The transaction reflects shares allocated through the issuer's dividend reinvestment plan rather than an open-market cash purchase.

Key Details

• Transaction date: 2026-05-22; Filing date: 2026-05-27.
• Transaction type/code: A — Grant/award/other acquisition (shares acquired via DRIP).
• Shares acquired: 715; Reported acquisition price: $0.00 (no cash value reported).
• Shares owned after transaction: Not disclosed in this filing.
• Footnote: F1 — Includes shares acquired since last report by reinvesting cash dividends under the issuer's dividend reinvestment plan.
• Timeliness: Filed 2026-05-27 for a 2026-05-22 transaction (after the typical 2-business-day Form 4 window), so the filing appears to have been submitted late.

Context
Dividend reinvestment plan (DRIP) allocations are routine: dividends are used to buy or allocate additional shares and are reported as acquisitions but do not necessarily reflect a new outlay of discretionary cash by the insider. For retail investors, DRIP-based acquisitions are generally less informative than open-market purchases but still increase insider shareholdings.