X0508 4 2024-08-27 false 0001629019 Merchants Bancorp MBIN 0001718348 Petrie Michael F. 410 MONON BOULEVARD CARMEL IN 46032 true true true false Chairman and CEO false Common Stock 2024-08-27 4 S false 22050.00 45.34 D 1990545.00 D Common Stock 2111868.00 I By Spouse Common Stock 1425000.00 I Spouse is Trustee of the Emily J. Petrie Irrevocable GST Trust 2010 Common Stock 3587034.00 I Spouse is Trustee of the Emily J. Petrie Irrevocable Trust - 2010 Common Stock 1425000.00 I Spouse is Trustee of the Julia L. Petrie Irrevocable GST Trust 2010 Common Stock 2482616.00 I Spouse is Trustee of the Julia L. Petrie Irrevocable Trust - 2010 Common Stock 674729.00 I Spouse is Trustee of The Petrie Grandchildren Trust Series B Depositary Shares 21021.00 D Series C Depositary Shares 100000.00 D The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.35 to $45.43 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 purchased at each separate price within the range set forth in this footnote. Includes 70,541 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 35,319 vesting 2/1/2025; 22,146 vesting 2/1/2026, and 13,076 vesting 2/1/2027. /s/ Terry A. Oznick, attorney-in-fact 2024-08-28