Form 4: Mercantile Bank Corp Executive Scott P. Setlock Reports Changes in Beneficial Ownership

Scott P. Setlock, EVP, COO, & Secretary of Mercantile Bank Corp, reports a transaction involving common stock, including a disposition of shares to cover tax obligations and shares held in a 401(k) plan.

Summary

• On December 18, 2024, Scott P. Setlock, EVP, COO, & Secretary of Mercantile Bank Corp, reported changes in beneficial ownership of the company's common stock.
• A total of 1,115 shares were disposed of at a price of $47.41 per share.
• The transaction was related to tax obligations.
• Setlock also reported ownership of 8,608 shares held indirectly in a 401(k) plan.
• Following the reported transactions, Setlock directly owns 17,795 shares of Mercantile Bank Corp common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive, with no inherent positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. It's a standard practice for executives to manage their stock holdings for tax planning and diversification purposes.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it represents a small percentage of the total outstanding shares.

Key Dates