Langford Kevin T 4

What Happened Kevin T. Langford, Chief Administrative Officer of Merchants Bancorp (MBIN), disposed of 650 shares on 2026-05-07 as a gift (transaction code G). The filing reports the per-share price as $0.00 and a total reported value of $0.00 — this was a non‑sale transfer (a gift), so no cash proceeds were received.

Key Details

• Transaction date and type: 2026-05-07 — Gift (G) of 650 shares at $0.00 per share; total reported value $0.00.
• Shares owned after transaction: the Form 4 does not disclose total beneficially owned shares after this gift.
• Footnote (F1): Reporting person holds 10,920 unvested restricted stock units (no voting rights or dividends until vested): 6,141 vest 2/1/2027; 3,236 vest 2/1/2028; 1,543 vest 2/1/2029.
• Filing timeliness: Reported on 2026-05-07 (same day as the transaction date), indicating a timely filing.
• No 10b5‑1 plan, tax‑withholding, or cashless exercise noted in this filing.

Context Gifts are transfers rather than purchases or sales and typically reflect personal, estate planning, or charitable decisions rather than a trading view on the stock. Because no cash changed hands, this transaction should not be interpreted as a market sentiment signal. The footnote shows the insider also has unvested RSUs that will convert to shares on future vesting dates and currently do not carry voting rights or dividend rights.