diff --git a/mempool/src/counters.rs b/mempool/src/counters.rs
index 838506efd7fc2..221d8b4a93748 100644
--- a/mempool/src/counters.rs
+++ b/mempool/src/counters.rs
@@ -100,6 +100,10 @@ pub const SUBMITTED_BY_CLIENT_LABEL: &str = "client";
 pub const SUBMITTED_BY_DOWNSTREAM_LABEL: &str = "downstream";
 pub const SUBMITTED_BY_PEER_VALIDATOR_LABEL: &str = "peer_validator";
 
+// Broadcast event labels
+pub const DROP_BROADCAST_LABEL: &str = "drop_broadcast";
+pub const RUNNING_LABEL: &str = "running";
+
 // Histogram buckets with a large range of 0-500s and some constant sized buckets between:
 // 0-1.5s (every 25ms), 1.5-2s (every 100ms), 2-5s (250ms), 5-10s (1s), and 10-25s (2.5s).
 const MEMPOOL_LATENCY_BUCKETS: &[f64] = &[
@@ -556,6 +560,21 @@ pub fn shared_mempool_broadcast_size(network_id: NetworkId, num_txns: usize) {
         .observe(num_txns as f64);
 }
 
+static SHARED_MEMPOOL_BROADCAST_RUNNING_EVENTS: Lazy<IntCounterVec> = Lazy::new(|| {
+    register_int_counter_vec!(
+        "aptos_shared_mempool_broadcast_running_events",
+        "Broadcast events (at runtime) for shared mempool",
+        &["event"]
+    )
+    .unwrap()
+});
+
+pub fn shared_mempool_broadcast_running_event_inc(event_label: &str) {
+    SHARED_MEMPOOL_BROADCAST_RUNNING_EVENTS
+        .with_label_values(&[event_label])
+        .inc();
+}
+
 static SHARED_MEMPOOL_BROADCAST_TYPE_COUNT: Lazy<IntCounterVec> = Lazy::new(|| {
     register_int_counter_vec!(
         "aptos_shared_mempool_rebroadcast_count",
diff --git a/mempool/src/shared_mempool/network.rs b/mempool/src/shared_mempool/network.rs
index eb57f9bad097e..be6cdd147d62c 100644
--- a/mempool/src/shared_mempool/network.rs
+++ b/mempool/src/shared_mempool/network.rs
@@ -90,6 +90,20 @@ pub enum BroadcastError {
     TooManyPendingBroadcasts(PeerNetworkId),
 }
 
+impl BroadcastError {
+    /// Returns a summary label for the error
+    pub fn get_label(&self) -> &'static str {
+        match self {
+            Self::NetworkError(_, _) => "network_error",
+            Self::NoTransactions(_) => "no_transactions",
+            Self::PeerNotFound(_) => "peer_not_found",
+            Self::PeerNotPrioritized(_, _) => "peer_not_prioritized",
+            Self::PeerNotScheduled(_) => "peer_not_scheduled",
+            Self::TooManyPendingBroadcasts(_) => "too_many_pending_broadcasts",
+        }
+    }
+}
+
 #[derive(Clone, Debug, Deserialize, Serialize, PartialEq, Eq)]
 pub enum BroadcastPeerPriority {
     Primary,
@@ -639,7 +653,7 @@ impl<NetworkClient: NetworkClientInterface<MempoolSyncMsg>> MempoolNetworkInterf
 
         // Log all the metrics
         let latency = start_time.elapsed();
-        trace!(
+        info!(
             LogSchema::event_log(LogEntry::BroadcastTransaction, LogEvent::Success)
                 .peer(&peer)
                 .message_id(&message_id)
diff --git a/mempool/src/shared_mempool/tasks.rs b/mempool/src/shared_mempool/tasks.rs
index 60476c70e7420..ae52c0438f1d2 100644
--- a/mempool/src/shared_mempool/tasks.rs
+++ b/mempool/src/shared_mempool/tasks.rs
@@ -61,35 +61,39 @@ pub(crate) async fn execute_broadcast<NetworkClient, TransactionValidator>(
     TransactionValidator: TransactionValidation,
 {
     let network_interface = &smp.network_interface.clone();
+    counters::shared_mempool_broadcast_running_event_inc(counters::RUNNING_LABEL);
+
     // If there's no connection, don't bother to broadcast
     if network_interface.sync_states_exists(&peer) {
         if let Err(err) = network_interface
             .execute_broadcast(peer, backoff, smp)
             .await
         {
+            counters::shared_mempool_broadcast_running_event_inc(err.get_label());
             match err {
-                BroadcastError::NetworkError(peer, error) => warn!(LogSchema::event_log(
-                    LogEntry::BroadcastTransaction,
-                    LogEvent::NetworkSendFail
-                )
-                .peer(&peer)
-                .error(&error)),
-                BroadcastError::NoTransactions(_) | BroadcastError::PeerNotPrioritized(_, _) => {
+                BroadcastError::NoTransactions(_) => {
+                    sample!(
+                        SampleRate::Duration(Duration::from_secs(1)),
+                        info!("No transactions to broadcast: {:?}", err)
+                    );
+                },
+                BroadcastError::PeerNotPrioritized(_, _) => {
                     sample!(
-                        SampleRate::Duration(Duration::from_secs(60)),
-                        trace!("{:?}", err)
+                        SampleRate::Duration(Duration::from_secs(1)),
+                        info!("Peer not prioritized. Skipping broadcast: {:?}", err)
                     );
                 },
                 _ => {
                     sample!(
-                        SampleRate::Duration(Duration::from_secs(60)),
-                        debug!("{:?}", err)
+                        SampleRate::Duration(Duration::from_secs(1)),
+                        warn!("Execute broadcast failed: {:?}", err)
                     );
                 },
             }
         }
     } else {
         // Drop the scheduled broadcast, we're not connected anymore
+        counters::shared_mempool_broadcast_running_event_inc(counters::DROP_BROADCAST_LABEL);
         return;
     }
     let schedule_backoff = network_interface.is_backoff_mode(&peer);