Schmidt Sara A 4

What Happened

• Sara A. Schmidt, a director of Mercantile Bank Corp (MBWM), was granted 715 shares on 2026-05-22. The Form 4 reports the acquisition at $0.00 per share (transaction code "A" — grant/award), with a reported total acquisition value of $0.
• This was an equity award (compensation-related) rather than an open-market purchase or sale. Such grants are typically part of director or executive compensation and do not necessarily signal a buy or sell decision by the insider.

Key Details

• Transaction date: 2026-05-22; Form 4 filed: 2026-05-27.
• Transaction type/code: A = Grant/award; price reported $0.00 per share; 715 shares acquired.
• Shares owned after transaction: Not specified in the provided transaction details (noted as unavailable in the filing excerpt).
• Footnotes/conditions: Vesting schedule or other restrictions were not disclosed in the provided details.
• Filing timeliness: The Form 4 was filed 5 days after the transaction date, which is later than the standard two-business-day SEC reporting window for most insider transactions — this delayed filing may reduce the timeliness of disclosure for investors.

Context

• Awards (code A) are generally compensation and often subject to vesting or forfeiture conditions; they differ from purchases/sales and may not reflect immediate trading intent.
• Because the filing does not specify vesting or immediate sale, assume these shares are compensation-related rather than a market purchase or disposition.