# EDGAR Filing Document

**Accession Number:** 0001698022
**File Stem:** 0001437749-26-018092
**Filing Date:** 2026-5
**Character Count:** 17010
**Document Hash:** 362e38b3aefcd7a399e0a01bd0c21e47
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-018092.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0001437749-26-018092

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260518

**ITEM INFORMATION**: Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Farmers & Merchants Bancshares, Inc.
- **CENTRAL INDEX KEY:** 0001698022
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 813605835
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55756
- **FILM NUMBER:** 261008771

**BUSINESS ADDRESS:**
- **STREET 1:** 4510 LOWER BECKLEYSVILLE ROAD
- **STREET 2:** SUITE H
- **CITY:** HAMPSTEAD
- **STATE:** MD
- **ZIP:** 21074
- **BUSINESS PHONE:** 4103741510

**MAIL ADDRESS:**
- **STREET 1:** 4510 LOWER BECKLEYSVILLE ROAD
- **STREET 2:** SUITE H
- **CITY:** HAMPSTEAD
- **STATE:** MD
- **ZIP:** 21074

?xml version='1.0' encoding='ASCII'? fmfg20260521_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): May 18, 2026

**<u>Farmers and Merchants Bancshares, Inc.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| <u>Maryland</u> | <u>000-55756</u> | <u>81-3605835</u> |
| (State or other jurisdiction of<br> incorporation or organization) | (Commission file number) | (IRS Employer <br> Identification No.) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <u>4510 Lower Beckleysville Road, Suite H, Hampstead, MD</u> | <u>21074</u> |
| (Address of principal executive offices) | (Zip Code) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Registrant's telephone number, including area code: <u>(410) 374-1510</u>

<u>N/A</u>

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**INFORMATION TO BE INCLUDED IN THE REPORT**

---

| | |
|:---|:---|
| **Item 5.05.** | **Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.** |

---

On May 18, 2026, the Board of Directors of Farmers and Merchants Bancshares, Inc. (the "Company") amended and restated the Code of Ethics that applies to all of the Company's directors and executive officers, including its principal executive officer and principal financial officer (the "Code of Ethics"), for the purpose of updating it and making it a more compliance-focused and principles-based code of ethics. The following list summarizes the amendments:

1. Structure & Tone

• Transition to a concise, section-based policy format

• More professional, compliance-focused tone

2. Governance & Accountability Enhancements 

• Formalized reporting expectations and accountability

• New anti-retaliation protections for good-faith reporting

• Clear, tiered disciplinary framework

3. Conflicts of Interest 

• Simplified, principle-based guidance

• Heightened focus on both actual and perceived conflicts

• Immediate disclosure requirement emphasized

4. Gifts & Business Courtesies 

• 'Nominal value' threshold increased from $50 to $100

• Simplified standards emphasizing reasonableness and frequency

5. New and Expanded Policy Areas 

• Confidentiality & data protection (including breach reporting)

• Personal trading and insider information restrictions

• External employment approval and disclosure structure

• Community and political activity guidelines

6. Personal Financial Responsibility 

• Shift from prescriptive triggers (e.g., resignation requirements) to principle-based expectations

7. Removal of Prescriptive Detail 

• Eliminates extensive examples and scenario-based rules

• Replaces detailed restrictions with principles and management oversight

8. Compliance Alignment 

• Stronger emphasis on fraud, bribery, and regulatory compliance

• Improved alignment with enterprise risk management practices

------

9. Administration & Acknowledgment 

• Annual employee and director acknowledgment required

• Board approval required for policy updates

A copy of the Code of Ethics is filed as Exhibit 14.1 to this report. The Code of Ethics is also available on the Company's website at, <u>www.fmb1919.bank</u>, and may be accessed by clicking on "Investor Relations", then "About Us", then "Corporate Overview", and then "Code of Ethics".

**Item 9.01**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Statements and Exhibits.**

(d) Exhibits.

The exhibits filed with this report are listed in the following Exhibit Index:

---

| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description</u> |
| 14.1 | [Code of Ethics (filed heretwith)](ex_966897.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | FARMERS AND MERCHANTS BANCSHARES, INC. | FARMERS AND MERCHANTS BANCSHARES, INC. |
| Dated: May 21, 2026 | By:  | /s/ Gary A. Harris |
|  |  | Gary A. Harris |
|  |  | President & CEO |

---

## Exhibit 14.1

**Exhibit 14.1**

**Farmers & Merchants Bancshares, Inc.**

**<u>Code of Ethics</u>**

**Purpose**

Farmers & Merchants Bancshares, Inc. ("the Company") is committed to conducting business with integrity, professionalism, and in compliance with all applicable laws and regulations. This Code of Ethics establishes the standards of conduct expected of all directors, officers, and employees. All individuals are responsible for upholding these standards and protecting the Company's reputation, customers, and financial system integrity.

**Core Ethical Expectations**

● Act with honesty, integrity, and sound judgment.

● Avoid conflicts of interest or the appearance of conflicts.

● Safeguard confidential information.

● Comply with all Companying laws, regulations, and internal policies.

● Conduct personal and professional affairs in a manner that protects the Company's reputation.

&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Conflicts of Interest** 

A conflict of interest exists when an individual's personal, financial, or relational interests are at odds with their professional responsibilities or could reasonably be perceived to influence their judgment or decision-making. Employees & Directors must avoid situations where personal interests could interfere - or appear to interfere - with the interests of the Company.

Do not engage in relationships that impair objectivity, including financial interests, outside employment, or personal relationships that could influence business decisions.

Do not use your position for personal gain. Do not take business opportunities that belong to the Company.

------

Disclose actual or potential conflicts immediately upon becoming aware of them.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Confidentiality and Use of Information** 

Employees & Directors must protect all confidential and proprietary information obtained through their employment. Employees & Directors are strictly prohibited from using confidential information acquired during their work, such as client financial data, for personal financial gain.

Do not disclose or misuse customer or Company information. Use confidential information solely for authorized business purposes. Comply with all confidentiality, data security, and information protection policies and agreements.

Any suspected or actual breach of confidential information must be reported immediately. This obligation continues after employment ends.

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Personal Financial Responsibility** 

Employees & Directors are expected to manage personal finances responsibly. Maintain accounts in good standing.

Employees & Directors are expected to demonstrate an ability to manage personal finances properly, particularly through the responsible use of credit.

Avoid misuse of accounts, overdrafts, or improper account activity. Meet credit obligations in a timely manner.

&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Gifts and Business Courtesies** 

Employees & Directors and their immediate family members must not accept gifts, favors, or benefits that could influence - or appear to influence - business decisions.

Lavish, excessive, or frequent gifts and entertainment are prohibited. Nominal business courtesies may be accepted only if reasonable, infrequent, and not tied to a business decision. "Nominal" gifts is defined as occasionally accepting a gift with a value of less than $100.00. Entertainment of reasonable value (like attending a local football game) is also acceptable, if it is a normal business practice generally offered to other customers, supplier, or vendors.

When in doubt, Employees & Directors should decline the gift or seek guidance and approval from their supervisor or the President of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Investment and Outside Interests** 

Employees & Directors must ensure personal investments do not create conflicts with Company activities. Investing in a customer's business is often prohibited, especially if the employee has access to non-public information about that customer. Do not invest in customer, supplier, or competitor businesses where a conflict exists or may arise.

------

Approval is required for investments that may present a conflict of interest.

&nbsp;&nbsp;&nbsp;&nbsp;**6.** **Personal Trading and Financial Activity** 

Employees & Directors with access to sensitive or non-public financial information may be required to disclose financial accounts and obtain approval for certain transactions. Use of insider information for personal gain is strictly prohibited.

&nbsp;&nbsp;&nbsp;&nbsp;**7.** **External Employment and Activities** 

Outside employment or business activity must not interfere with job performance, create a conflict of interest, or compete with the Company.

For officers of the Company, prior approval is required for secondary employment or business ownership. For all other employees, disclosure of outside employment, to their direct supervisor, is required.

&nbsp;&nbsp;&nbsp;&nbsp;**8.** **Involvement in Community, Politics, and Other Businesses** 

The Company encourages employees to be active in their communities and to participate in civic, charitable, and professional activities. However, such involvement must not create a conflict of interest or interfere with an individual's responsibilities to the Company.

Guidelines:

● Employees must ensure that outside activities do not conflict with the interests of the Company or impair their objectivity or job performance.

● Employees must not represent themselves as acting on behalf of the Company unless specifically authorized.

● Use of Company resources, including time, property, or information, for outside activities is prohibited unless approved.

● Participation in outside organizations, boards, or business ventures that may present a conflict of interest requires prior approval.

Political Activities:

● Employees may participate in political activities in a personal capacity; however, such involvement must be conducted in compliance with applicable laws and must not imply Company endorsement.

------

● Company funds, resources, or assets may not be used to support political candidates, parties, or campaigns unless expressly authorized and legally permissible.

Employees are expected to exercise good judgment and seek guidance when questions arise regarding outside activities.

&nbsp;&nbsp;&nbsp;&nbsp;**9.** **Compliance with Laws and Ethical Conduct** 

Employees & Directors must comply with all applicable laws and regulations, including those related to fraud, bribery, financial reporting, and recordkeeping.

Illegal or unethical conduct may result in termination and legal consequences. Should an officer or Director be charged and/or convicted of criminal activity, following review by the Board of Directors, appropriate administrative sanctions may be placed on the individual.

**Reporting and Accountability**

All Employees & Directors have a responsibility to report suspected violations of this Code.

Reports may be made to a supervisor, executive management, or a member of the Board of Directors.

Failure to report known violations may result in disciplinary action.

**Consequences of Violations**

Violations of this Code will result in appropriate disciplinary action, which may include counseling, written warning, suspension, termination of employment, or required resignation for officers and directors.

Serious violations may be referred for civil or criminal prosecution.

**Anti-Retaliation**

The Company strictly prohibits intimidation, retaliation, or adverse action against any individual who, in good faith:

● Reports a suspected or actual violation of this Code, Company policy, or applicable laws or regulations; or

● Participates in, assists with, or cooperates in an investigation or inquiry related to such matters.

Retaliation is a serious violation of this Code and will result in disciplinary action, up to and including termination of employment.

------

**Administration and Acknowledgment**

This Code is administered by Executive Management and the Board of Directors.

All employees and directors are required to acknowledge receipt and understanding annually and disclose potential conflicts as required.

Revisions to this Code must be approved by the Board of Directors.

------

**Annual Director Disclosure Statement**

Annually each member of the Board of Directors of the Farmers & Merchants Bancshares, Inc., shall update and sign a Disclosure Statement regarding compliance with the Bank's Code of Ethics.

Situations that should be disclosed include, but are not limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Relationships with vendors used by the Bank

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Political activities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Elected or appointed offices held

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Other directorships held

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Involvement in other organizations that do business with the Bank

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Ownership in other organizations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Loan guarantees for non-immediate family members

------

I have read and approved of the Code of Ethics of the Farmers & Merchants Bancshares, Inc. I feel that I should report the following situations:

Print Name:<u> </u>

Signed:<u> </u> Date:<u> </u>