Form 4: Merchants Bancorp GC Acquires Stock, Disposes Shares

Merchants Bancorp's SVP, General Counsel, Terry A Oznick, acquired 4,216 shares of common stock and disposed of 2,000 Series D Depositary Shares.

Summary

• Terry A Oznick, SVP, General Counsel of Merchants Bancorp, reported transactions on January 27, 2026.
• Oznick acquired 4,216 shares of Common Stock at a price of $0.00, which are unvested restricted stock units (RSUs).
• Oznick disposed of 2,000 Series D Depositary Shares.
• Following these transactions, Oznick beneficially owns 34,059 shares of Common Stock, which includes 15,379 unvested restricted stock units.
• The unvested restricted stock units have a vesting schedule: 5,636 units on February 1, 2026; 5,440 units on February 1, 2027; 2,897 units on February 1, 2028; and 1,406 units on February 1, 2029.
• Oznick no longer holds Series D Depositary Shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal. The acquisition of common stock (even if unvested RSUs) by a key executive generally indicates confidence in the company's future, partially offsetting the disposal of other security types.

Positives

• Acquisition of 4,216 shares of Common Stock, albeit as unvested restricted stock units, indicates continued equity interest and alignment with long-term shareholder value.
• The grant of restricted stock units ties executive compensation to future company performance and share price appreciation.

Negatives

• Disposal of 2,000 Series D Depositary Shares by a key executive.

Industry Context

StockSavvy.ai notes that insider transactions, particularly acquisitions of common stock, can be interpreted by the market as a signal of management's confidence in the company's future prospects. While the disposal of other security types might be for personal financial planning, the net effect of increasing common stock holdings through RSUs is generally viewed positively.

Stakeholder Impact

• Shareholders may view the acquisition of common stock by a senior executive as a positive indicator of management's belief in the company's future performance and alignment of interests.

Next Steps

• Vesting of 5,636 restricted stock units on February 1, 2026.
• Vesting of 5,440 restricted stock units on February 1, 2027.
• Vesting of 2,897 restricted stock units on February 1, 2028.
• Vesting of 1,406 restricted stock units on February 1, 2029.

Key Dates

Keywords

Merchants Bancorp, MBIN, Insider Transaction, Form 4, Restricted Stock Units, RSU, Executive Compensation, Stock Acquisition, Depositary Shares