---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-009074"
form_type: "8-K"
ticker: "MBWM"
cik: "0001042729"
company_name: "MERCANTILE BANK CORP"
filed_at: "2026-03-19T23:59:59+00:00"
generated_at: "2026-05-15T09:34:05.696845+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Mercantile Bank adopts 2026 exec bonus plan with $1.2M target pool, six metrics

## Summary
- Target bonus pool $1,206,725; max pool $1,810,087 (150% of target).
- Metrics: EPS, ROA, NIM, efficiency ratio, non-performing assets, loans-to-deposits.
- CEO target 60% of salary (max 90%); CFO/COO/commercial banking 40% (max 60%); HR 35% (max 52.5%).
- Plan covers CEO Reitsma, CFO Christmas, COO Setlock, CBO Augustyn, HR Hoover, and one other executive.
- Bonuses paid by March 15, 2027; subject to clawback provisions.

## SEC filing metadata
- accession: 0001437749-26-009074
- form_type: 8-K
- ticker: MBWM
- cik: 0001042729
- company_name: MERCANTILE BANK CORP
- filed_at: 2026-03-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042729/000143774926009074/0001437749-26-009074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042729/000143774926009074/mbwm20260318_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-009074
- JSON: https://secwatch.observer/filing/0001437749-26-009074.json
- Plain text: https://secwatch.observer/filing/0001437749-26-009074.txt

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