Merchants Bancorp (MBIN) Director Andrew Juster Receives Award

What Happened

• Andrew Juster, a director of Merchants Bancorp (MBIN), was granted 328 shares on 2026-08-20 as an equity award (transaction code A). The shares were priced at $53.50 each, for a total value of $17,548. This was an award of director compensation rather than an open-market purchase or sale.

Key Details

• Transaction date and price: Aug 20, 2026 — 328 shares at $53.50 each.
• Total value: $17,548.
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Footnote: The award represents the equity portion of the reporting person’s quarterly director retainer. The number of shares was calculated by dividing the dollar value of the equity retainer by the prior trading day's closing price and rounding up to the next whole share.
• Filing timeliness: The Form 4 was filed on Aug 24, 2026 for an Aug 20 transaction (filed 4 days after the transaction), which exceeds the usual 2-business-day Form 4 filing window and would be considered late.

Context

• This was a routine compensation award for board service; such grants are common and reflect pay structure rather than a direct buy/sell signal about the officer’s view of the stock. Purchases by insiders are generally more informative about sentiment than routine grants.