MBIN CEO Petrie sells 39,030 Merchants Bancorp shares
Merchants Bancorp Chairman and CEO Michael F. Petrie, a more than 10% owner of MBIN, reported open-market sales of Common Stock.
Rhea-AI Filing Summary
Merchants Bancorp Chairman and CEO Michael F. Petrie, a more than 10% owner of MBIN, reported open-market sales of Common Stock. He sold 20,000 shares directly on May 5, 2026 at $46.75 per share and 8,334 shares directly on May 6, 2026 at $46.86 per share, leaving him with 1,864,994 directly held shares.
In addition, an entity associated with him, where his spouse is trustee of The Petrie Grandchildren Trust, sold 10,696 Common Stock shares on May 5, 2026 at $46.75 per share, with 736,013 shares remaining in that trust. The filing also notes 48,961 unvested restricted stock units included in his holdings that will vest between February 1, 2027 and February 1, 2029, during which he does not have voting rights or receive dividends on those units.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 39,030 shares
Net Sell
9 txns
Insider
Petrie Michael F.
Role
Chairman and CEO
Sold
39,030 shs ($1.83M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 8,334 | $46.86 | $391K |
| Sale | Common Stock | 20,000 | $46.75 | $935K |
| Sale | Common Stock | 10,696 | $46.75 | $500K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Series C Depositary Shares | -- | -- | -- |
Holdings After Transaction:
Common Stock — 736,013 shares (Indirect, Spouse is Trustee of The Petrie Grandchildren Trust);
Common Stock — 1,864,994 shares (Direct);
Common Stock — 2,111,868 shares (Indirect, By Spouse);
Common Stock — 1,425,000 shares (Indirect, Spouse is Trustee of the Emily J. Petrie Irrevocable GST Trust 2010);
Common Stock — 2,611,424 shares (Indirect, Spouse is Trustee of the Emily J. Petrie Irrevocable Trust - 2010);
Common Stock — 1,425,000 shares (Indirect, Spouse is Trustee of the Julia L. Petrie Irrevocable GST Trust 2010);
Common Stock — 2,410,152 shares (Indirect, Spouse is Trustee of the Julia L. Petrie Irrevocable Trust - 2010);
Series C Depositary Shares — 2,958 shares (Direct)
Footnotes (1)
- F1. 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.
Key Figures
Direct sale 1: 20,000 shares at $46.75
Direct sale 2: 8,334 shares at $46.86
Trust sale: 10,696 shares at $46.75
+5 more
8 metrics
Direct sale 1
20,000 shares at $46.75
Common Stock open-market sale on May 5, 2026
Direct sale 2
8,334 shares at $46.86
Common Stock open-market sale on May 6, 2026
Trust sale
10,696 shares at $46.75
Petrie Grandchildren Trust sale on May 5, 2026
Total shares sold
39,030 shares
Net open-market sales in this filing
Direct holdings after
1,864,994 shares
Direct Common Stock owned after May 6, 2026 sale
Grandchildren Trust holdings
736,013 shares
Common Stock held after trust sale on May 5, 2026
Unvested RSUs
48,961 units
Vesting 2027–2029 with no voting rights or dividends until vesting
Series C Depositary Shares
2,958 shares
Directly held as of May 5, 2026
Key Terms
open-market sale, unvested restricted stock units, Series C Depositary Shares, irrevocable trust, +1 more
5 terms
open-market sale financial
"reported open-market sales of Common Stock"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
unvested restricted stock units financial
"Includes 48,961 unvested restricted stock units for which the reporting person"
irrevocable trust financial
"Spouse is Trustee of the Julia L. Petrie Irrevocable Trust - 2010"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
GST Trust financial
"Spouse is Trustee of the Emily J. Petrie Irrevocable GST Trust 2010"
FAQ
What insider transactions did MBIN Chairman Michael F. Petrie report in this Form 4?
Michael F. Petrie reported selling 20,000 Merchants Bancorp Common Stock shares at $46.75 and 8,334 shares at $46.86. An associated trust sold 10,696 shares at $46.75. These open-market sales total 39,030 shares across his direct and indirect holdings.
Does Michael F. Petrie hold any unvested restricted stock units of Merchants Bancorp?
Yes. His holdings include 48,961 unvested restricted stock units. These vest in tranches of 27,591 on February 1, 2027, 14,515 on February 1, 2028, and 6,855 on February 1, 2029, during which he has no voting rights or dividends on these units.
What other Merchants Bancorp securities are reported in this Form 4 filing?
The filing also shows direct ownership of 2,958 Series C Depositary Shares. In addition, multiple indirect Common Stock positions are held through various irrevocable trusts and by his spouse, each with substantial share balances following the reported transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
