Merchants Bancorp — Director's Dealing 2020

Jan 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Merchants Bancorp (MBIN)
CIK: 0001629019
Period of Report: 2020-01-02

Reporting Person: Kucer Susan Dehner (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-02	Common Stock	S	1518.00	$19.6956	Disposed	13271.00	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
8 % Non-Cumulative, Perpetual Preferred Stock	250.00	Direct
Series A Preferred Stock	8000.00	Direct

Footnotes

F1: These shares were part of an automatic sell to cover transaction to satisfy tax withholding obligations in connection with the vesting of restricted stock units and do no represent discretionary trades by the reporting person.

F2: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.70 to $19.56 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.

F3: Includes 6,688 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 3,893 vesting 12/31/2020 and 2,795 vesting 12/31/2021