Patrick D. O'Brien - 18 May 2023 Form 4 Insider Report for Merchants Bancorp (MBIN)

Role: Director
Signature: /s/ Terry A. Oznick, attorney-in-fact
Issuer symbol: MBIN
Transactions as of: 18 May 2023
Net transactions value: +$12,519
Form type: 4
Filing time: 22 May 2023, 08:49:45 UTC
Previous filing: 10 Mar 2023
Next filing: 14 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBIN	Common Stock	Award	$12,519	+526	+0.46%	$23.80	114,374	18 May 2023	Direct	F1
holding	MBIN	Series A Preferred Stock						20,000	18 May 2023	Direct
holding	MBIN	Series A Preferred Stock						80,000	18 May 2023	by O'Brien Motors, Inc.
holding	MBIN	Series B depositary shares						4,500	18 May 2023	Direct
holding	MBIN	Series B Depositary Shares						4,000	18 May 2023	by O'Brien Motors, Inc.
holding	MBIN	Series C Depositary Shares						43,700	18 May 2023	Direct
holding	MBIN	Series C Depositary Shares						40,000	18 May 2023	by O'Brien Motors, Inc.
holding	MBIN	Series D Depositary Shares						40,000	18 May 2023	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This award represents the equity portion of the Reporting Person's quarterly retainer for service as a director of the Issuer. The number of shares awarded was determined by dividing the dollar value of the equity portion by the price shown, which was the closing price of one share of the Issuer's common stock on the day immediately prior to the most recent scheduled quarterly board meeting, and rounding up to the next whole share.

Content

This award represents the equity portion of the Reporting Person's quarterly retainer for service as a director of the Issuer. The number of shares awarded was determined by dividing the dollar value of the equity portion by the price shown, which was the closing price of one share of the Issuer's common stock on the day immediately prior to the most recent scheduled quarterly board meeting, and rounding up to the next whole share.