Company: FMFG
Filing Date: 2025-03-13
Form Type: PREC14A
Source: 0001437749-25-007538
Chunk: 43

Company: Farmers & Merchants Bancshares, Inc.
Filing Date: 2025-03-13
Form: PREC14A
Chunk 43
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f)           |     |     | Net Income 
 (g)        |           |
|:-----------------------|:----|:----------------|--------:|:----|:-----------------|--------:|:----|:-------------------|--------:|:----|:----------------|--------:|:----|:--------------|----:|:----|:-----------|----------:|
| 2024                   |     | $               | 462,453 |     | $                | 468,403 |     | $                  | 250,723 |     | $               | 250,723 |     | $             |  99 |     | $          | 4,277,703 |
| 2023                   |     |                 | 588,148 |     |                  | 586,208 |     |                    | 316,914 |     |                 | 316,914 |     |               |  85 |     |            | 6,418,337 |
| 2022                   |     |                 | 426,348 |     |                  | 426,348 |     |                    | 396,441 |     |                 | 396,441 |     |               | 103 |     |            | 8,090,127 |

Notes:

| (1) | For 2024, Gary A. Harris was the PEO used for purposes of calculating the amounts set forth in column (c). For 2022, James R. Bosley, Jr. was the PEO used for purposes of calculating the amounts set forth in column (c). |

| (2) | For 2024 and 2023, Mark C. Krebs and Christopher T. Oswald were the non-PEO named executive officers used for purposes of calculating the amounts set forth in column (e). For 2022, Gary A. Harris and Christopher T. Oswald were the non-PEO named executive officers used for purposes of column (e). Mr. Oswald retired on August 19, 2024 and his salary listed in the summary compensation table for 2024 reflects the amount paid through such date. Had Mr. Oswald been employed through December 31, 2024, the amounts shown for 2024 in columns (d) and (e) of this table would both have been (after annualizing Mr. Oswald’s salary) $298,240. |

| (3) | The dollar amounts reported above for the PEO