{"transactions":[{"id":922351,"issuer":{"id":4382,"kind":"organization","name":"Merchants Bancorp"},"owners":[{"id":67995,"kind":"person","name":"Sievers Sean A.","position":1,"cik":"0002035266","reported_name":"Sievers Sean A.","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CHIEF FINANCIAL OFFICER"}}],"security":"Common Stock","published_at":"2026-02-03T16:20:05.000Z","date":"2026-02-01","kind":"tax_withholding","planned":false,"acquired":false,"shares":246,"price":41.46,"value":10199.16,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Represents the number of shares withheld upon vesting of restricted stock units to cover tax withholding obligations."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"Includes 7,935 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 2,896 vesting 2/1/2027; 2,896 vesting 2/1/2028; and 2,143 vesting 2/1/2029."}],"balance_after":14388,"source":{"system":"sec-edgar","filing":"0002035266-26-000003","document":"primarydocument.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2035266/000203526626000003/primarydocument.xml","form_type":"4"}},{"id":928020,"issuer":{"id":4382,"kind":"organization","name":"Merchants Bancorp"},"owners":[{"id":67995,"kind":"person","name":"Sievers Sean A.","position":1,"cik":"0002035266","reported_name":"Sievers Sean A.","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CHIEF FINANCIAL OFFICER"}}],"security":"Common Stock","published_at":"2026-01-29T08:50:47.000Z","date":"2026-01-27","kind":"grant","planned":false,"acquired":true,"shares":6427,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vesting and shares are issued."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"Includes 8,688 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vested and shares are issued: 753 vesting 2/1/2026; 2,896 vesting 2/1/2027; 2,896 vesting 2/1/2028; and 2,143 vesting 2/1/2029."}],"balance_after":14634,"source":{"system":"sec-edgar","filing":"0002035266-26-000002","document":"primarydocument.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2035266/000203526626000002/primarydocument.xml","form_type":"4"}},{"id":1036493,"issuer":{"id":4382,"kind":"organization","name":"Merchants Bancorp"},"owners":[{"id":67995,"kind":"person","name":"Sievers Sean A.","position":1,"cik":"0002035266","reported_name":"Sievers Sean A.","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CHIEF FINANCIAL OFFICER"}}],"security":"Series D Depositary Shares","published_at":"2025-09-18T08:29:56.000Z","date":"2025-09-15","kind":"purchase","planned":false,"acquired":true,"shares":3000,"price":24.87,"value":74610.0,"ownership":{"direct":true},"footnotes":[{"field":"price","element":"transactionPricePerShare","label":"F1","text":"The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.88 to $24.86 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."}],"balance_after":3000,"source":{"system":"sec-edgar","filing":"0002035266-25-000004","document":"primarydocument.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2035266/000203526625000004/primarydocument.xml","form_type":"4"}},{"id":1075051,"issuer":{"id":4382,"kind":"organization","name":"Merchants Bancorp"},"owners":[{"id":67995,"kind":"person","name":"Sievers Sean A.","position":1,"cik":"0002035266","reported_name":"Sievers Sean A.","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Financial Officer"}}],"security":"Common Stock","published_at":"2025-08-05T12:15:59.000Z","date":"2025-08-01","kind":"purchase","planned":false,"acquired":true,"shares":2500,"price":29.75,"value":74375.0,"ownership":{"direct":true},"footnotes":[{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F1","text":"Includes 2,261 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vesting and shares are issued: 753 vesting 2/1/2026; 754 vesting 2/1/2027, and 754 vesting 2/1/2028."}],"balance_after":8207,"source":{"system":"sec-edgar","filing":"0001104659-25-074056","document":"tm2522611-1_4seq1.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2035266/000110465925074056/tm2522611-1_4seq1.xml","form_type":"4"}},{"id":1292044,"issuer":{"id":4382,"kind":"organization","name":"Merchants Bancorp"},"owners":[{"id":67995,"kind":"person","name":"Sievers Sean A.","position":1,"cik":"0002035266","reported_name":"Sievers Sean A.","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CHIEF FINANCIAL OFFICER"}}],"security":"Common Stock","published_at":"2025-01-29T16:34:43.000Z","date":"2025-01-28","kind":"grant","planned":false,"acquired":true,"shares":2261,"price":0,"value":0.0,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vesting and shares are issued: 753 vesting 2/1/2026; 754 vesting 2/1/2027, and 754 vesting 2/1/2028."},{"field":"balance_after","element":"sharesOwnedFollowingTransaction","label":"F2","text":"Includes 2,261 unvested restricted stock units for which the reporting person does not have voting rights or receive dividends until vesting and shares are issued: 753 vesting 2/1/2026; 754 vesting 2/1/2027, and 754 vesting 2/1/2028."}],"balance_after":5707,"source":{"system":"sec-edgar","filing":"0001562180-25-000665","document":"primarydocument.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2035266/000156218025000665/primarydocument.xml","form_type":"4"}},{"id":1406878,"issuer":{"id":4382,"kind":"organization","name":"Merchants Bancorp"},"owners":[{"id":67995,"kind":"person","name":"Sievers Sean A.","position":1,"cik":"0002035266","reported_name":"Sievers Sean A.","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"CHIEF FINANCIAL OFFICER"}}],"security":"Common Stock","published_at":"2024-09-16T08:25:32.000Z","date":"2024-09-13","kind":"grant","planned":false,"acquired":true,"shares":3446,"price":42.43,"value":146213.78,"ownership":{"direct":true},"footnotes":[{"field":"shares","element":"transactionShares","label":"F1","text":"Net shares issued to Reporting Person after withholding shares to cover tax withholding obligations in payment of equity sign-on bonus."}],"balance_after":3446,"source":{"system":"sec-edgar","filing":"0001562180-24-006804","document":"primarydocument.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2035266/000156218024006804/primarydocument.xml","form_type":"4"}}]}