Merchants Bancorp (MBIN) CEO Petrie discloses sales of common and preferred shares
Rhea-AI Filing Summary
Merchants Bancorp Chairman and CEO Michael F. Petrie reported open‑market sales of both preferred and common equity. On February 26, 2026, he sold 13,871 Series C Depositary Shares at a weighted average price of $20.25 per share, leaving 2,958 Series C shares held directly. That same day he sold 15,000 common shares at a weighted average price described between $44.05 and $44.00 per share, and held 1,893,328 common shares directly afterward, including 48,961 unvested restricted stock units that carry no voting rights or dividends until they vest.
On February 25, 2026, Petrie also sold 377 Series C Depositary Shares at a weighted average price of $20.20 per share. In addition to his direct holdings, the disclosure lists substantial indirect ownership of Merchants Bancorp common stock through his spouse and several family trusts for which his spouse acts as trustee.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Series C Depositary Shares | 13,871 | $20.25 | $281K |
| Sale | Common Stock | 15,000 | $44.05 | $661K |
| Sale | Series C Depositary Shares | 377 | $20.20 | $8K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.20 to $20.33 per share, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.05 to $44.00 per share, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Includes 48,961 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 27,591 vesting 2/1/2027; 14,515 vesting 2/1/2028; and 6,855 vesting 2/1/2029.
