Dury Michael R. 4

What Happened Michael R. Dury, identified as CEO of Merchants Capital, reported a gift (transaction code G) of 10,700 Merchants Bancorp (MBIN) shares on 2026-06-03. The report lists the transaction price as $0.00 per share (total proceeds $0), reflecting a transfer by gift rather than a sale.

Key Details

• Transaction date: 2026-06-03; Form 4 filed: 2026-06-05 (file appears timely).
• Transaction type/code: Gift (G); 10,700 shares disposed at $0.00 per share (total $0).
• Shares owned after transaction: not specified in this filing. The filing notes 6,607 unvested restricted stock units still attributable to the reporting person.
• Footnote (F1): 6,607 unvested restricted stock units are included in reported holdings; 4,829 vest on 2/1/2027 and 1,778 vest on 2/1/2028.
• No indication of a 10b5-1 plan, tax withholding, or late filing in the report.

Context Gifts are transfers of shares and do not generate cash proceeds for the insider; they are not a straightforward signal of personal bullish or bearish sentiment. The filing’s footnote shows a portion of the reporting person’s stake is in unvested RSUs with specified future vesting dates, which remain subject to vesting conditions.