Petrie Michael F. 4

What Happened Michael F. Petrie, a reported 10% owner of Merchants Bancorp (MBIN), was granted 20,565 restricted stock units (RSUs) on January 27, 2026. The grant is recorded at $0.00 per share (no cash paid). This is an award/grant (A) of RSUs rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-27; Form 4 filed: 2026-01-29 (filed within the usual two-business-day window).
• Grant: 20,565 RSUs, acquisition price $0.00 (award/grant).
• Shares owned after transaction: the filing does not state a single total beneficial ownership number; it discloses existing unvested RSUs and the new award. Footnote F2 references 78,768 unvested RSUs (29,807 vest 2/1/2026; 27,591 vest 2/1/2027; 14,515 vest 2/1/2028; 6,855 vest 2/1/2029).
• Footnote F1/F2: These are unvested restricted stock units — no voting rights or dividends until vesting and issuance of shares.

Context RSU awards are compensation-driven and represent a future right to receive stock if vesting conditions are met; they are not an immediate cash purchase or sale. As a 10% owner, Petrie's holdings are material, but RSU grants are routine compensation events and do not by themselves indicate buy/sell sentiment.