Merchants Bancorp (MBIN) Director Thomas Dinwiddie Receives Award

What Happened

• Thomas Dinwiddie, a director of Merchants Bancorp (ticker: MBIN), was granted 328 shares as an equity award on August 20, 2026. The shares were valued at $53.50 each, for a total reported value of $17,548. This transaction is an award/grant (code A) representing the equity portion of his quarterly director retainer — a routine form of compensation rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-08-20; Price per share: $53.50; Shares acquired: 328; Total value: $17,548.
• Filing date (Form 4): 2026-08-24 — filed four days after the transaction. Form 4s are normally due within two business days, so this filing appears late.
• Shares owned after the transaction: Not specified in the provided filing summary.
• Footnote: The award is the equity portion of the quarterly director retainer. The number of shares was determined by dividing the dollar value of the equity portion by the prior trading day's closing price and rounding up to the next whole share.

Context

• This was a compensation-related equity grant to a board member, a routine corporate practice and not an outright market purchase that would signal personal investment conviction. For retail investors, such director retainer awards are common and mainly reflect compensation policy rather than insider trading intent.