Raymond Reitsma compensation by year
MERCANTILE BANK Summary Compensation Table · all 8 fiscal years held| Component | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Salary | $330,025 | $346,526 | $370,783 | $400,621 | $405,784 | $440,874 | $484,784 | $734,600 |
| Bonus | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock awards | $148,440 | $166,864 | $192,860 | $202,891 | $220,395 | $242,387 | $316,208 | $471,283 |
| Option awards | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Non-equity incentive | $89,107 | $106,124 | $113,552 | $118,146 | $185,207 | $198,393 | $242,392 | $462,798 |
| Pension and deferred compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| All other | $46,555 | $57,344 | $57,217 | $60,498 | $59,274 | $80,629 | $92,464 | $101,302 |
| Total | $614,127 | $676,858 | $734,412 | $782,156 | $870,660 | $962,283 | $1,135,848 | $1,769,983 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: MERCANTILE BANK CORP DEF 14A filed April 2, 2026, accession 0001437749-26-010964, and prior-year filings. Open the filing on EDGAR.
How this page was built: the MERCANTILE BANK CORP filed document, accession 0001437749-26-010964. Every figure is read from that document and cited to the page and table it appears in. Filed April 2, 2026.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| PSU | 7,860 | $378,066 | — |
| PSU | 7,551 | $363,203 | — |
| PSU | 6,085 | $292,689 | — |
| PSU | 3,277 | $157,624 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in MERCANTILE BANK CORP's FY2025 proxy; value at the fiscal year-end close, as the company printed it.
MERCANTILE BANK’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Raymond Reitsma · this page | President and Chief Executive Officer | $1,769,983 |
| Charles Christmas | Executive Vice President, Chief Financial Officer and Treasurer | $899,980 |
| Mark Augustyn | Executive Vice President, Chief Commercial Banking Officer | $892,642 |
| Scott Setlock | Executive Vice President, Chief Operating Officer and Secretary | $697,728 |
| Brett Hoover | Executive Vice President, Chief Human Resource Officer | $557,042 |
Board service
MERCANTILE BANK board · FY2023–FY2025How this board is paid
Company policy: MERCANTILE BANK pays directors a $75,300 cash retainer. As stated in MERCANTILE BANK's FY2025 proxy.
The full MERCANTILE BANK compensation record
free company briefThis page is one person within MERCANTILE BANK's record. The company brief lists every named executive, each linking to their own page.
Peer companies
named in the MERCANTILE BANK proxy · each links to its own free briefCompensation, the day it’s disclosed
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How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are MERCANTILE BANK's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
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