Merchants Bancorp CFO Sean A. Sievers Acquires Common Stock

On August 1, 2025, Sean A. Sievers, the Chief Financial Officer of Merchants Bancorp, acquired 2,500 shares of the company's common stock at a price of $29.75 per share. Following this transaction, Sievers owns a total of 8,207 shares, which includes 2,261 unvested restricted stock units. These restricted units vest in three tranches: 753 on February 1, 2026, 754 on February 1, 2027, and 754 on February 1, 2028. Sievers does not have voting rights or receive dividends on these unvested units until they vest and shares are issued. The transaction was reported in a Form 4 filing with the SEC.