---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-017240"
form_type: "8-K"
ticker: "MBWM"
cik: "0001042729"
company_name: "MERCANTILE BANK CORP"
filed_at: "2022-07-18T23:59:59+00:00"
generated_at: "2026-06-24T13:02:17.956490+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Mercantile Bank adopts 2022 executive bonus plan with $729,950 pool

## Summary
- Maximum bonus pool $729,950; payouts based on seven metrics: EPS (25%), NPA, NIM, revenue, efficiency ratio, ROA, ROE (12.5% each).
- Pro rata allocation based on salary caps: CEO 55%, President 45%, CFO 35%, CRO 20%.
- Bonuses payable on or before March 15, 2023, subject to clawback for inaccurate financials or misconduct.
- Plan effective Jan 1, 2022; covers executives Kaminski, Reitsma, Christmas, Worthington.

## SEC filing metadata
- accession: 0001437749-22-017240
- form_type: 8-K
- ticker: MBWM
- cik: 0001042729
- company_name: MERCANTILE BANK CORP
- filed_at: 2022-07-18T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042729/000143774922017240/0001437749-22-017240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042729/000143774922017240/mbwm20220715_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-017240
- JSON: https://secwatch.observer/filing/0001437749-22-017240.json
- Plain text: https://secwatch.observer/filing/0001437749-22-017240.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.