Merchants Bancorp — Director's Dealing 2025

Jan 29, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Merchants Bancorp (MBIN)
CIK: 0001629019
Period of Report: 2025-01-28

Reporting Person: Dury Michael R. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-28	Common Stock	A	5334.00	$0.00	Acquired	101827.00	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18200.00	Indirect
Series C Depositary Shares	26000.00	Direct
Series D Depositary Shares	4000.00	Direct

Footnotes

F1: Unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vesting and shares are issued: 1,778 vesting 2/1/2026; 1,778 vesting 2/1/2027, and 1,778 vesting 2/1/2028.

F2: Includes 21,918 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 8,540 vesting 2/1/2025; 6,771 vesting 2/1/2026; 4,829 vesting 2/1/2027, and 1,778 vesting 2/1/2028.