Schroeter Martin A 4

What Happened
Martin A. Schroeter, President—Warehouse Lending at Merchants Bancorp (MBIN), sold 5,500 shares on February 10, 2026. The transactions generated about $253,330 in proceeds; the filing reports a weighted average price of $46.06 per share.

Key Details

• Transaction date: 2026-02-10; filing date (Form 4): 2026-02-12 (timely filing).
• Transaction type/code: Sale (S) — reported as open market or private sale.
• Shares sold: 5,500; reported total proceeds: $253,330.
• Price details: weighted average $46.06; individual sale prices ranged from $45.95 to $46.24 per share (Footnote F1). The filer offers to provide a breakdown of the number of shares sold at each price on request.
• Shares owned after the transaction: Not specified in the summary provided—see the Form 4 for post-transaction holdings.
• No 10b5-1 plan, tax withholding, gift, or option-exercise notation was reported in the provided details.

Context

• Sales by executives are common and can be for many reasons (liquidity, diversification, routine). A sale is not by itself a clear negative signal about company prospects.
• The filing appears timely (filed within two business days of the transaction), so no late-filing implication is indicated.

For full details, review the Form 4 (Accession 0001793725-26-000002) on the SEC EDGAR site.