Mercantile Bank (MBWM) Proxy filing summary

Executive summary

• The 2026 annual meeting will be held virtually on May 21, 2026, at 9:00 a.m. ET, with shareholders able to participate and vote online, by phone, or by mail in advance.

• Shareholders will vote on electing twelve directors for one-year terms, ratifying the appointment of Plante & Moran, PLLC as independent auditor for 2026, and an advisory say-on-pay vote for executive compensation.

• The record date for voting is March 27, 2026, with 17,274,899 shares outstanding.

Voting matters and shareholder proposals

• Board recommends voting FOR all twelve director nominees, auditor ratification, and executive compensation approval.

• Shareholders may submit proposals for the 2027 annual meeting by December 3, 2026.

• Shareholder proposals and director nominations must comply with SEC rules and company bylaws.

Board of directors and corporate governance

• Board consists of twelve members with diverse backgrounds in finance, law, technology, and community leadership.

• 92% of directors are independent; Chairman and CEO roles are separated.

• Board committees include Audit, Compensation, and Governance & Nominating, all chaired by independent directors.

• Annual board and committee evaluations, succession planning, and regular shareholder engagement are emphasized.

• Over 50% of board members possess racial and gender diversity; committee chairs include female directors.