Form 4: Merchants Bancorp SVP, General Counsel Terry A Oznick Reports Share Disposals and Holdings

Terry A Oznick, SVP and General Counsel at Merchants Bancorp, reports the disposal of Series B Depositary Shares and holdings in common stock and Series D Depositary Shares.

Summary

• Terry A Oznick, a Senior Vice President and General Counsel at Merchants Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the disposal of 1,900 Series B Depositary Shares at a price of $25 per share.
• The disposal was due to the redemption by the issuer of all outstanding shares of Series B preferred stock.
• Oznick also holds 28,152 shares of common stock, which includes 13,668 unvested restricted stock units.
• The unvested restricted stock units vest over three years: 6,981 on 2/1/2025, 4,144 on 2/1/2026, and 2,543 on 2/1/2027.
• Additionally, Oznick holds 2,000 Series D Depositary Shares.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by an officer, with no indication of positive or negative sentiment.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company officer, which is a common practice in the financial industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for company insiders to report transactions in their company's securities, as mandated by the SEC.
• The reporting of stock disposals and holdings is consistent with regulatory requirements for transparency in insider trading.
• The vesting schedule for restricted stock units is a common practice for employee compensation in the financial sector.

Stakeholder Impact

• The disposal of Series B Depositary Shares has a minimal impact on shareholders as it was a redemption by the issuer.
• The vesting of restricted stock units will impact the ownership structure over the next few years.

Key Dates

Keywords

Merchants Bancorp, Terry A Oznick, Form 4, Beneficial Ownership, Series B Depositary Shares, Common Stock, Series D Depositary Shares, Restricted Stock Units, Stock Redemption