Mercantile Bank approves $3M bonus pool tied to Eastern Michigan Bank merger, Jack Henry conversion

MERCANTILE BANK CORP

Board approved the 2026-2027 Merger Integration and Core Conversion Bonus Plan on Sept. 24, 2026, creating a $3,000,000 aggregate cash bonus pool.
Pool rewards employees, including executive officers, for integrating the Eastern Michigan Bank merger and converting Mercantile's core and digital banking systems to the Jack Henry platform.
Compensation Committee has sole discretion over participants and award amounts; no minimum award is guaranteed and none, part or all of the pool may be granted.
Earned awards pay on or before March 31, 2027; recipients must be active employees (medical leave excepted), while suspended or final-written-warning employees are ineligible.
Awards are subject to recovery under the company's Oct. 2, 2023 Dodd-Frank/Nasdaq Rule 5608 clawback policy; the plan is effective immediately and governed by Michigan law.

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