Form 4: Merchants Bancorp Executive Scott A. Evans Sells 25,000 Shares

Scott A. Evans, Lynn Market President at Merchants Bancorp, sold 25,000 shares of common stock at an average price of $43.10 on January 29, 2025, while also acquiring 4,476 shares through unvested restricted stock units.

Summary

• On January 28, 2025, Scott A. Evans acquired 4,476 shares of Merchants Bancorp common stock through unvested restricted stock units at a price of $0.00.
• On January 29, 2025, Evans sold 25,000 shares of common stock at an average price of $43.10.
• The sales were executed under a pre-arranged 10b5-1 stock trading plan established on August 7, 2024.
• Following these transactions, Evans directly owns 27,606 shares of Merchants Bancorp common stock, which includes 18,144 unvested restricted stock units.
• The unvested restricted stock units do not grant voting rights or dividend entitlements until they vest and shares are issued.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing represents routine transactions by an executive. The sale is offset by the acquisition of shares through vesting.

Industry Context

Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on insider information.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, but the pre-planned nature of the sale mitigates this concern.

Key Dates