---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-003043"
form_type: "8-K"
ticker: "MBWM"
cik: "0001042729"
company_name: "MERCANTILE BANK CORP"
filed_at: "2025-02-06T23:59:59+00:00"
generated_at: "2026-05-27T01:21:07.946179+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Mercantile Bank shifts 2025 executive stock grants: 35% time-based, 65% performance vs peer index

## Summary
- 35% of 2025 restricted stock grants to executive officers will cliff vest in 3 years with no performance conditions; 65% tied to performance metrics.
- Performance goals now measured against a Comparative Index of similarly-sized bank holding companies on TSR, ROAA, and diluted EPS change.
- Target award shares calculated as base salary multiplied by percentage (CEO 65%, CFO 45%, others 45%/40%) divided by closing price on grant date.
- Awards can range from 0% to 150% of target depending on Company's percentile rank relative to the index.

## SEC filing metadata
- accession: 0001437749-25-003043
- form_type: 8-K
- ticker: MBWM
- cik: 0001042729
- company_name: MERCANTILE BANK CORP
- filed_at: 2025-02-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042729/000143774925003043/0001437749-25-003043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042729/000143774925003043/mbwm20250206_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-003043
- JSON: https://secwatch.observer/filing/0001437749-25-003043.json
- Plain text: https://secwatch.observer/filing/0001437749-25-003043.txt

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