Michael F. Petrie - 25 Feb 2026 Form 4 Insider Report for Merchants Bancorp (MBIN)

Signature
/s/ Terry A. Oznick, attorney-in-fact
Issuer symbol
MBIN
Transactions as of
25 Feb 2026
Net transactions value
-$949,253
Form type
4
Filing time
27 Feb 2026, 16:18:58 UTC
Previous filing
19 Feb 2026

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Petrie Michael F. Chairman and CEO, Director, 10%+ Owner 410 MONON BOULEVARD, CARMEL /s/ Terry A. Oznick, attorney-in-fact 27 Feb 2026 0001718348

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBIN Series C Depositary Shares Sale $7,615 -377 -2.2% $20.20 16,829 25 Feb 2026 Direct
transaction MBIN Series C Depositary Shares Sale $280,888 -13,871 -82% $20.25 2,958 26 Feb 2026 Direct F1
transaction MBIN Common Stock Sale $660,750 -15,000 -0.79% $44.05 1,893,328 26 Feb 2026 Direct F2, F3
holding MBIN Common Stock 2,111,868 25 Feb 2026 By Spouse
holding MBIN Common Stock 1,425,000 25 Feb 2026 Spouse is Trustee of the Emily J. Petrie Irrevocable GST Trust 2010
holding MBIN Common Stock 2,611,424 25 Feb 2026 Spouse is Trustee of the Emily J. Petrie Irrevocable Trust - 2010
holding MBIN Common Stock 1,425,000 25 Feb 2026 Spouse is Trustee of the Julia L. Petrie Irrevocable GST Trust 2010
holding MBIN Common Stock 2,410,152 25 Feb 2026 Spouse is Trustee of the Julia L. Petrie Irrevocable Trust - 2010
holding MBIN Common Stock 746,709 25 Feb 2026 Spouse is Trustee of The Petrie Grandchildren Trust
* 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 $20.20 to $20.33 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 sold at each separate price within the range set forth in this footnote.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.05 to $44.00 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 sold at each separate price within the range set forth in this footnote.
F3 Includes 48,961 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 27,591 vesting 2/1/2027; 14,515 vesting 2/1/2028; and 6,855 vesting 2/1/2029.