Merchants Bancorp — Director's Dealing 2025

Feb 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Merchants Bancorp (MBIN)
CIK: 0001629019
Period of Report: 2025-02-01

Reporting Person: Schroeter Martin A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-01	Common Stock	F	1765.00	$41.93	Disposed	17044.00	Direct

Footnotes

F1: Represents the number of shares withheld upon vesting of restricted stock units to cover tax withholding obligations.

F2: Includes 1,601 unvested restricted stock units vesting on 2/1/2026 for which the reporting person does not have voting rights or receive dividends until vested and shares are issued.