O'Brien Patrick D. 4

What Happened

• Patrick D. O'Brien, a director of Merchants Bancorp (MBIN), was awarded 377 shares on 2026-02-19. The shares were granted as an equity portion of his quarterly director retainer and are reported as an acquisition (code A) at $46.45 per share, with a total reported value of $17,512.

Key Details

• Transaction date: 2026-02-19; Transaction code: A (grant/award/acquisition).
• Price per share reported: $46.45; Total value: $17,512 (377 shares).
• Shares owned after transaction: not disclosed in the filing.
• Footnote: the award equals the equity portion of the quarterly director retainer; the number of shares was calculated by dividing the retainer dollar amount by the prior trading day's closing stock price and rounding up to the next whole share.
• Filing timeliness: report dated and filed 2026-02-19 (no late filing indicated).

Context

• This is a compensation-related award (routine director retainer), not an open-market purchase or sale; such grants are common and reflect compensation, not a direct market sentiment signal.