Dury Michael R. 4

What Happened
Michael R. Dury (listed as CEO of Merchants Capital) had 2,972 restricted stock units (RSU) withheld to cover tax withholding obligations on Feb 1, 2026. The filing shows those shares were valued at $41.46 each, for a total of $123,219. The transaction is coded F (tax withholding/disposition) and represents shares retained by the company to satisfy withholding, not an open-market sale.

Key Details

• Transaction date: 2026-02-01 (Form 4 filed 2026-02-03). Filing appears timely.
• Transaction type/code: Shares withheld for tax withholding (Code F).
• Price per share: $41.46; total value: $123,219.
• Shares withheld/disposed: 2,972.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 — represents shares withheld upon RSU vesting to cover tax withholding. F2 — the filing notes 6,607 unvested RSUs still outstanding (4,829 vesting 2/1/2027; 1,778 vesting 2/1/2028).
• Accession #: 0001718356-26-000001.

Context
Withholding shares to cover taxes on RSU vesting is a routine administrative action and does not necessarily signal intent to buy or sell shares on the open market. This was a cashless tax withholding (shares retained by the company) rather than an executed sale; for retail investors, such transactions are generally neutral in terms of insider sentiment.