---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-008596"
form_type: "8-K"
ticker: "MBWM"
cik: "0001042729"
company_name: "MERCANTILE BANK CORP"
filed_at: "2025-03-20T23:59:59+00:00"
generated_at: "2026-05-24T09:40:25.300311+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Mercantile Bank adopts 2025 executive bonus plan with metrics-based pool up to $1.6M

## Summary
- Target bonus pool $1,071,011; max $1,606,516 based on six financial metrics.
- Metrics: EPS (25%), ROA (12.5%), NIM (12.5%), efficiency ratio (12.5%), non-performing assets (12.5%), loans-to-deposits (25%).
- CEO target 60% salary (max 90%); CFO 40% (max 60%); COO 35% (max 52.5%).
- Award paid pro rata based on uniform percentage of 2025 salary; payouts by March 15, 2026.
- Plan subject to clawback; effective Jan 1, 2025.

## SEC filing metadata
- accession: 0001437749-25-008596
- form_type: 8-K
- ticker: MBWM
- cik: 0001042729
- company_name: MERCANTILE BANK CORP
- filed_at: 2025-03-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042729/000143774925008596/0001437749-25-008596-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042729/000143774925008596/mbwm20250318_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-008596
- JSON: https://secwatch.observer/filing/0001437749-25-008596.json
- Plain text: https://secwatch.observer/filing/0001437749-25-008596.txt

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