Michael J. Dunlap - Nov 16, 2021 Form 4 Insider Report for Merchants Bancorp (MBIN)

Role: President, COO, Director
Signature: /s/ Terry A. Oznick, attorney-in-fact
Stock symbol: MBIN
Transactions as of: Nov 16, 2021
Transactions value $: -$33,600
Form type: 4
Date filed: 11/17/2021, 03:13 PM
Next filing: Jan 26, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBIN	Series A Preferred Stock	Sale	-$33.6K	-1.2K	-100%	$28.00	0	Nov 16, 2021	Direct	F1
holding	MBIN	Common Stock						84.2K	Nov 16, 2021	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.01 per share, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2	Includes 40,058 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 17,707 vesting 2/1/2022; 13,472 vesting 2/1/2023; and 8,879 vesting 2/1/2024.

Content

The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.01 per share, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Includes 40,058 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 17,707 vesting 2/1/2022; 13,472 vesting 2/1/2023; and 8,879 vesting 2/1/2024.