secwatch.observer — SEC 8-K summary
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Issuer:     MERCANTILE BANK CORP (MBWM)
CIK:        0001042729
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001437749-24-036177
Event type: other_material
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mercantile Bank adopts new deferred compensation plan for executives and directors
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- Adopted Nonqualified Deferred Compensation Plan #2, effective Jan 1, 2025, replacing prior plan.
- Eligible: directors and executive VPs; defer up to 80% salary, 100% bonus, 100% director fees.
- No employer contributions; participants always 100% vested; account credited with investment returns.
- Distributions: separation, death, disability, in-service (lump sum or 5-yr installments), or emergency.
- Rabbi trust with Principal Trust Company holds assets; assets subject to general creditor claims.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042729/000143774924036177/0001437749-24-036177-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042729/000143774924036177/mbwm20241122_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-036177

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