Form 4: Merchants Bancorp Chairman and CEO Michael Petrie Reports Stock Transactions

Michael F. Petrie, Chairman and CEO of Merchants Bancorp, reports disposition and acquisition of common stock and adjustments to beneficial ownership.

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.
• On February 1, 2025, 12,107 shares of common stock were disposed of at a price of $41.93 per share to cover tax withholding obligations upon vesting of restricted stock units.
• On February 3, 2025, 72,464 shares were disposed of via gift.
• On February 4, 2025, 11,991 shares were disposed of via gift.
• Following these transactions, Petrie directly owns 2,001,419 shares of common stock, which includes 58,203 unvested restricted stock units.
• Petrie also indirectly owns shares through various trusts for his spouse and grandchildren, totaling 8,259,445 shares.
• He directly owns 100,000 Depositary Shares.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock transactions and vesting of restricted stock units. The sentiment is neutral as it reflects standard executive compensation and tax management practices.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal as these are routine transactions.

Key Dates

Keywords

beneficial ownership, Form 4, stock transactions, Merchants Bancorp, MBIN, Michael Petrie, restricted stock units, tax withholding, trusts