Merchants Bancorp (MBIN) Director Tamika Catchings Receives 328-Share Award

What Happened Tamika Catchings, a director of Merchants Bancorp (MBIN), was granted 328 shares on 2026-08-20 as an equity portion of her quarterly director retainer. The shares were valued at $53.50 each, for a total reported value of $17,548. This transaction is coded as an award/grant (A) — routine compensation rather than an open-market buy or sale.

Key Details

• Transaction date: 2026-08-20; Price per share: $53.50; Shares granted: 328; Total value: $17,548.
• Award mechanics (footnote): the share count equals the dollar value of the equity retainer divided by the prior closing price (the closing price the day before the scheduled quarterly board meeting), rounded up to the next whole share.
• Shares owned after the transaction: not reported on the Form 4.
• Filing date: 2026-08-24 (filed four days after the transaction), which appears later than the typical two-business-day Form 4 filing deadline.

Context This is a compensation award for board service and is generally considered routine (not necessarily a bullish or bearish personal trade). The filing discloses the mechanics used to convert the cash retainer to shares; no sale, purchase, option exercise, or tax-withholding disposition was indicated in this entry.