Koors Jerry F. 4

What Happened

• Jerry F. Koors, President of Merchants Mortgage at Merchants Bancorp, had 2,140 shares withheld upon the vesting of restricted stock units to satisfy tax withholding obligations. The shares were valued at $41.46 each, for a total of $88,724. This was a withholding disposition tied to RSU vesting (routine tax-related), not an open-market sale.

Key Details

• Transaction date: 2026-02-01; Filing date: 2026-02-03 (appears timely; Form 4s are due within two business days).
• Price per share: $41.46; Total value of shares withheld/disposed: $88,724.
• Nature of transaction: Code F — shares withheld to cover tax withholding upon RSU vesting (cashless/withholding event), not a discretionary sale.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Confirms shares were withheld to cover tax withholding obligations.
  • F2: Koors has 11,845 unvested RSUs remaining (6,450 vest 2/1/2027; 3,544 vest 2/1/2028; 1,851 vest 2/1/2029). These unvested RSUs carry no voting rights or dividends until vested.

Context

• This transaction is a routine tax-withholding event associated with RSU vesting. It does not necessarily indicate insider buying or an intentional sale of shares in the open market. For investors, purchases by insiders can be more informative about sentiment; withholding to cover taxes is common and largely administrative.