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

Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

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, 2012		634,427		$	15.11
Forfeited		(19,899	)		15.40
Expired		(141,809	)		10.64

Outstanding at December 31, 2012		472,719		$	16.44		2.52	$	---

Exercisable at December 31, 2012		472,719		$	16.44		2.52	$	---

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

	2012		2011

Intrinsic value of options exercised	$	---	$	---
Cash received from option exercises		---		---
Tax benefit realized from option exercises		---		---

Changes in nonvested stock awards

Restricted stock awards have vesting periods of up to four years. 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, 2012		---		---		---
Granted		121,000	$	2.90	$	349,690
Vested		---		---		---
Forfeited		---		---		---
Outstanding at December 31, 2012		121,000	$	2.90	$	349,690