Form 4: Merchants Bancorp Chairman and CEO Michael Petrie Sells Shares

Michael F. Petrie, Chairman and CEO of Merchants Bancorp, sold 22,050 shares of common stock at a weighted average price of $45.34 on August 27, 2024.

Summary

• On August 27, 2024, Michael F. Petrie, the Chairman and CEO of Merchants Bancorp, sold 22,050 shares of the company's common stock.
• The sale was executed at a weighted average price of $45.34 per share, with individual transactions ranging from $45.35 to $45.43.
• Following the transaction, Petrie directly owns 1,990,545 shares, which includes 70,541 unvested restricted stock units.
• Petrie also indirectly owns shares through his spouse, who is the trustee of several irrevocable trusts.
• These trusts include the Emily J. Petrie Irrevocable GST Trust 2010 (1,425,000 shares), the Emily J. Petrie Irrevocable Trust 2010 (3,587,034 shares), the Julia L. Petrie Irrevocable GST Trust 2010 (1,425,000 shares), the Julia L. Petrie Irrevocable Trust 2010 (2,482,616 shares), and The Petrie Grandchildren Trust Series B (674,729 shares).
• Petrie also directly owns 21,021 Series B Depositary Shares and 100,000 Series C Depositary Shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, but the market may interpret the sale as a lack of confidence or a need for liquidity.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity. It provides transparency into the transactions of company executives and their potential impact on the market.

Stakeholder Impact

• Shareholders may react to the news of the CEO's share sale, potentially impacting the stock price.
• The sale could be perceived as a lack of confidence in the company's future performance.

Key Dates