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Mercantile Bank ( (MBWM) ) has provided an announcement.
On February 6, 2025, Mercantile Bank Corporation’s Compensation Committee granted restricted stock to its executive officers, continuing a strategy initiated in 2018 of using performance metrics for vesting. However, for the 2025 grants, the Committee introduced a time-based vesting component, where 35% of the shares will vest after three years irrespective of performance. The remaining 65% will vest based on performance goals compared to a new Comparative Index of similar-sized bank holding companies, with metrics including total shareholder return, return on average assets, and earnings per share changes. Executive officers’ potential awards are calculated based on their base salary and the company’s performance relative to these goals, with the possibility of earning between 0% and 150% of the target award.
More about Mercantile Bank
YTD Price Performance: 12.63%
Average Trading Volume: 69,132
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $795.8M
See more insights into MBWM stock on TipRanks’ Stock Analysis page.