Macatawa Bank Corporation Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

A summary of option activity in the plans is as follows (dollars in thousands, except per option data):

Options	Number Outstanding			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at January 1, 2017		53,000		$	8.57		---		---
Exercised		(8,000	)		8.57		---		---
Expired		---			---		---		---
Outstanding at December 31, 2017		45,000		$	8.57		0.05	$	64,350

Exercisable at December 31, 2017		45,000		$	8.57		0.05	$	64,350

Information related to stock options during each year follows (dollars in thousands):

	2017		2016		2015
Intrinsic value of options exercised	$	---	$	---	$	---
Cash received from option exercises		68		---		---
Tax benefit realized from option exercises		8		---		---

A summary of changes in the Company’s nonvested restricted stock awards for the year follows:

Nonvested Stock Awards	Shares			Weighted- Average Grant-Date Fair Value		Aggregate Intrinsic Value
Outstanding at January 1, 2017		132,548		$	6.88	$	1,325,480
Granted		49,770			9.87		497,700
Vested		(70,215	)		6.26		702,150
Forfeited		(7,055	)		6.60		70,550
Outstanding at December 31, 2017		105,048		$	8.73	$	1,050,480