Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Consistent with the prior announcements of Farmers and Merchants Bancshares, Inc. (the "Company") on May 25, 2022 and July 20, 2022, James R. Bosley, Jr. retired as the Chief Executive Officer of the Company and its bank subsidiary, Farmers and Merchants Bank, on December 31, 2022 and was replaced by Gary A. Harris, who now holds the positions of President and Chief Executive Officer.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

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

Exhibit No. Description

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