David N. Shane - 19 Feb 2026 Form 4 Insider Report for Merchants Bancorp (MBIN)

Reporting relationship: Director
Issuer ticker: MBIN
Reported as of: 19 Feb 2026
Net transaction value: +$17,512
SEC form: 4
Accepted by SEC: 19 Feb 2026, 17:06:24 UTC
Prior SEC filing: 21 Nov 2025
Source filing: View source filing
Reporting owner signature: /s/ Terry A. Oznick, attorney-in-fact

Key filing fact

David N. Shane filed Form 4 for Merchants Bancorp (MBIN) on 19 Feb 2026.

Key facts

This page summarizes David N. Shane's Form 4 filing for Merchants Bancorp (MBIN).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 19 Feb 2026, 17:06.

Change

Previous filing in this sequence was filed on 21 Nov 2025.
Current net transaction value: +$17,512.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001718492 Primary reporting owner

Shane David N.

Relationship: Director
Address: 410 MONON BLVD, CARMEL
Signature: /s/ Terry A. Oznick, attorney-in-fact
Signature date: 19 Feb 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MBIN transaction

Common Stock

Award

Transaction value: $17,512
Shares: +377
Change %: +1.6%
Price: $46.45
Shares after: 23,527
Date: 19 Feb 2026
Ownership: Direct
Footnotes: F1

MBIN holding

Series C Depositary Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 2,000
Date: 19 Feb 2026
Ownership: Direct

MBIN holding

Series D Depositary Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 2,000
Date: 19 Feb 2026
Ownership: Direct

MBIN holding

Series E Depositary Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 2,000
Date: 19 Feb 2026
Ownership: Direct

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 1 footnote

Footnote F1

This award represents the equity portion of the Reporting Person's quarterly retainer for service as a director of the Issuer. The number of shares awarded was determined by dividing the dollar value of the equity portion by the price shown, which was the closing price of one share of the Issuer's common stock on the day immediately prior to the most recent scheduled quarterly board meeting, and rounding up to the next whole share.