diff --git a/drivers/net/bonding/bond_main.c b/drivers/net/bonding/bond_main.c
index 0d9226bdf661..33843b89ab04 100644
--- a/drivers/net/bonding/bond_main.c
+++ b/drivers/net/bonding/bond_main.c
@@ -3014,9 +3014,11 @@ re_arm:
 		if (!rtnl_trylock())
 			return;
 
-		if (should_notify_peers)
+		if (should_notify_peers) {
+			bond->send_peer_notif--;
 			call_netdevice_notifiers(NETDEV_NOTIFY_PEERS,
 						 bond->dev);
+		}
 		if (should_notify_rtnl) {
 			bond_slave_state_notify(bond);
 			bond_slave_link_notify(bond);