Oznick Terry A 4

What Happened Terry Oznick, Senior Vice President and General Counsel of Merchants Bancorp (MBIN), received an award of 4,216 restricted stock units (RSUs) on January 27, 2026. The Form 4 reports the acquisition at $0.00 per share (code A), reflecting a grant of unvested RSUs rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-01-27; Form 4 filed: 2026-01-29 (timely filing).
• Transaction type/code: Award/Grant (A). 4,216 RSUs acquired at $0.00.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: These are unvested restricted stock units; the reporting person does not have voting rights or receive dividends until vesting and issuance of shares.
  • F2: The filing also notes the reporting person holds 15,379 additional unvested RSUs with a vesting schedule: 5,636 on 2/1/2026; 5,440 on 2/1/2027; 2,897 on 2/1/2028; and 1,406 on 2/1/2029.
• No sale, exercise, or tax‑withholding transaction was reported in this entry.

Context RSU grants are a common form of executive compensation and represent a promise of shares if and when vesting conditions are met. They are not an immediate purchase or sale and do not necessarily signal the insider’s view of the stock—value and liquidity depend on future vesting and any subsequent sales.