<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2024-07-22</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001698022</issuerCik>
        <issuerName>Farmers &amp; Merchants Bancshares, Inc.</issuerName>
        <issuerTradingSymbol>fmfg</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001631680</rptOwnerCik>
            <rptOwnerName>RENBAUM BARRY J.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3921 BUTLER ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>REISTERSTOWN</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21136</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>314617</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This Form 3 is submitted on behalf of Reporting Person
Carol Renbaum by her husband and joint co-owner of the
314,617 shares referenced in Item 2 of Table 1 under a
grant of authority from Carol to Barry designating Barry
as the person authorized to file Form 3 on her behalf
until such time as Carol revokes such authority. In
addition, this Footnote 1 incorporates by reference
all the disclosures set forth in Footnote 1 of Barry's
Form 3 filed with the SEC in concert with this Form 3.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Carol Ellen Renbaum</signatureName>
        <signatureDate>2024-07-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Barry Jeffrey Renbaum</signatureName>
        <signatureDate>2024-07-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
