Company: FMFG
Filing Date: 2025-03-24
Form Type: DEFC14A
Source: 0001437749-25-008883
Chunk: 12

Company: Farmers & Merchants Bancshares, Inc.
Filing Date: 2025-03-24
Form: DEFC14A
Chunk 12
---
617 | -8 |     |              |  9.91 | % |

Notes:

| (1) | Includes 10,493 shares held jointly with spouse. |

| (2) | Includes 2,566 shares held jointly with spouse and 6,967 shares held by CE Holdings, Inc. |

<div align='center'>5</div>

| (3) | Includes 39,869 shares owned by a trust for which Mr. Halle is the trustee and one of the beneficiaries. |

| (4) | Includes 24,478 shares held jointly with spouse and 7,546 shares held jointly with his daughter. |

| (5) | Includes 7,124 shares held jointly with spouse. |

| (6) | Includes 300 shares held jointly with spouse. |

| (7) | Includes 8,620 shares held jointly with son, and 85,929 shares held jointly with spouse. |

| (8) | The information is based on the Schedule 13D/A filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 3, 2024 by Mr. and Mrs. Renbaum, whose principal address is 3921 Butler Road, Reisterstown, Maryland 21136. Mr. and Mrs. Renbaum own the shares as joint tenants and, accordingly, each is deemed to beneficially own the shares. |

As of the Record Date, Louna S. Primm and J. Lawrence Mekulski, both current director emeriti, beneficially owned 2,859 and 2,866 shares of the Common Stock, respectively.

<div align='center'>ELECTION OF DIRECTORS

(Proposal 1)</div>

The number of directors constituting the Company Board is currently set at 11. The Company Board, by resolution approved by a majority vote thereof, may alter the number of directors from time to time. Directors are divided into four classes, as nearly equal in number as possible, with respect to the time for which the directors may hold office. Each director is elected to hold office for a term of four years and thereafter until his or her successor has been elected and qualifies, which term is subject to earlier expiration if (i) he or she is removed pursuant to the Bylaws, or (ii) he or she fails to qualify to serve as a director as provided in the Bylaws. Section 3(c) of Article II of the Bylaws provide that no person, including an