Form 4: Merchants Bancorp Chairman and CEO Michael F. Petrie Reports Changes in Beneficial Ownership

Michael F. Petrie, Chairman and CEO of Merchants Bancorp, reports changes in his beneficial ownership of company stock due to gifting transactions.

Summary

• Michael F. Petrie, Chairman and CEO of Merchants Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The reported transactions involve the gifting of common stock on February 2, 2023, and March 11, 2024.
• On February 2, 2023, 6,300 shares of common stock were gifted.
• On March 11, 2024, 2,200 shares of common stock were gifted.
• Following these transactions, Petrie's direct holdings include 2,012,595 shares of common stock, 21,021 shares of Series B Depositary Shares, and 100,000 shares of Series C Depositary Shares.
• Petrie also has indirect ownership through various trusts for his spouse and grandchildren, totaling several million shares of common stock.
• The report also mentions 70,541 unvested restricted stock units that Petrie holds, which will vest in tranches on February 1, 2025, February 1, 2026, and February 1, 2027.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock ownership, so the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The gifting of shares by a major shareholder could be perceived positively by the market, signaling confidence in the company's future.

Key Dates