Terry A Oznick - 01 Feb 2026 Form 4 Insider Report for Merchants Bancorp (MBIN)

Role: SVP, General Counsel
Signature: /s/ Terry A Oznick
Issuer symbol: MBIN
Transactions as of: 01 Feb 2026
Net transactions value: -$111,320
Form type: 4
Filing time: 03 Feb 2026, 16:23:21 UTC
Previous filing: 29 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Oznick Terry A	SVP, General Counsel	410 MONON BLVD, CARMEL	/s/ Terry A Oznick	03 Feb 2026	0001753104

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBIN	Common Stock	Tax liability	$111,320	-2,685	-7.9%	$41.46	31,374	01 Feb 2026	Direct	F1, F2
holding	MBIN	Series D Depositary Shares						2,000	01 Feb 2026	Direct

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

Explanation of Responses:

Id	Content
F1	Represents the number of shares withheld upon vesting of restricted stock units to cover tax withholding obligations.
F2	Includes 9,743 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 5,440 vesting 2/1/2027; 2,897 vesting 2/1/2028; and 1,406 vesting 2/1/2029.