Form 4: Merchants Bancorp Executive Schroeter Martin A Disposes of Series A Preferred Stock

Martin A. Schroeter, President-Warehouse Lending at Merchants Bancorp, reports the redemption of Series A Preferred Stock by the issuer and continued ownership of common stock.

Summary

• On April 1, 2024, Martin A. Schroeter, President-Warehouse Lending at Merchants Bancorp, reported a transaction involving the company's securities.
• The transaction involved the redemption by the issuer of 1,600 shares of Series A Preferred Stock at a price of $25 per share.
• Following the transaction, Schroeter directly owns 0 shares of Series A Preferred Stock.
• Schroeter also owns 18,809 shares of common stock, which includes 6,040 unvested restricted stock units.
• 4,439 of these restricted stock units vest on February 1, 2025, and 1,601 vest on February 1, 2026.
• The reporting person does not have voting rights or receive dividends for the unvested restricted stock units until they are vested and shares are issued.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a transaction. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure of a transaction by a company insider, as required by the Securities and Exchange Act of 1934. It provides transparency regarding the holdings and transactions of company executives.

Key Dates