Langford Kevin T 4

What Happened Kevin T. Langford, Chief Administrative Officer of Merchants Bancorp (MBIN), was granted 4,628 restricted stock units (reported as an award/acquisition) on 2026-01-27. The Form 4 lists the acquisition price as $0.00 (standard for equity awards); no immediate cash changed hands. The filing notes these are unvested RSUs that do not convey voting rights or dividend entitlements until shares vest and are issued.

Key Details

• Transaction date: 2026-01-27 (Form 4 filed 2026-01-29).
• Transaction type/code: Award/Grant (A). Reported price: $0.00; amount: 4,628 RSUs.
• Shares owned/after-transaction: filing does not state total owned outright; footnote reports 17,254 unvested RSUs tied to the reporting person.
• Footnotes: F1 — unvested RSUs carry no voting rights or dividends until vesting. F2 — discloses 17,254 unvested RSUs vesting in installments: 6,334 on 2/1/2026; 6,141 on 2/1/2027; 3,236 on 2/1/2028; 1,543 on 2/1/2029.
• Timeliness: Filed within the Form 4 reporting window (filed two days after the transaction), so not late.

Context RSU awards are compensation grants, not open-market buys or sales. They represent the right to receive shares in the future if vesting conditions are met; they typically do not indicate immediate buying sentiment by the insider. The economic value to the insider depends on the company’s future share price and fulfillment of vesting conditions.