Luciani Barry 4

What Happened Luciani Barry, Executive Vice President of Farmers & Merchants Bancshares, Inc. (FMFG), received an award of 1,200 restricted stock units (RSUs) on January 21, 2026. The award has a $0 acquisition price (typical for RSU grants) and will be settled solely in the issuer's common stock as the units vest. This is an equity award rather than a market purchase or sale.

Key Details

• Transaction date: 2026-01-21 — Grant/Award (code A) of 1,200 RSUs at $0.00.
• Vesting: RSUs vest ratably over a three-year period beginning Jan 21, 2026, contingent on continued employment on each vesting date.
• Shares owned after transaction: Not specified in the provided filing details.
• Filing date: 2026-01-29 (filed 8 days after the grant); this appears later than the typical 2-business-day Form 4 filing requirement.
• No indication of a 10b5-1 plan, cashless exercise, tax-withholding sale, or gift in the provided remarks.

Context RSU grants are a common form of executive compensation intended to align management with shareholder interests; they do not require an outlay of cash by the insider. Because this was an award (not a purchase), it should not be read as a direct market purchase signal. The reported late filing may warrant noting but does not change the nature of the grant.