Company: MBINL
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032188
Chunk: 44

Company: Merchants Bancorp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 44
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 overall objectives of the Company’s compensation program have been to align NEO compensation with the success of meeting strategic and financial goals. Shareholders are urged to read the CD&A, Executive Compensation, Summary Compensation Table, and other related compensation tables and narrative disclosure that describe the compensation of our NEOs in 2024. The Compensation Committee and Board believe that the information provided regarding the compensation of our NEOs in this Proxy Statement demonstrates that our executive compensation program was designed appropriately and is working to maximize shareholder return while mitigating risk and aligning managements’ interests with our shareholders. Accordingly, the Board recommends that shareholders approve the following advisory resolution: “RESOLVED, that Merchants Bancorp’s shareholders approve, on an advisory basis, its executive compensation paid to its Named Executive Officers as disclosed and described in its 2025 Proxy Statement, including the Compensation Discussion and Analysis, Executive Compensation, and Summary Compensation Table, and other related compensation tables and narrative disclosure.” Approval of this resolution requires the affirmative vote of a majority of the shares represented at the Annual Meeting and entitled to vote on such proposal. While this advisory vote is required, it is not binding on our Board and may not be construed as overruling any decision by the Board. However, the Compensation Committee will take into account the outcome of the vote when considering future compensation arrangements. The Board recommends that you vote to approve the compensation paid to our NEOs by voting “FOR” this proposal. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The below table sets forth the following information as of the Record Date (unless otherwise provided in the footnotes) regarding the beneficial ownership of our common stock for:

| ● | each shareholder known by us to beneficially own more than 5% of our outstanding common stock; |

| ● | each of our directors and nominees; |

| ● | each of our NEOs; and |

| ● | all of our directors, nominees, and executive officers as a group. |

We have determined beneficial ownership in accordance with the rules of the SEC. These rules generally provide that a person is the beneficial owner of securities if such person has or shares the power to vote or direct the voting of securities, or to dispose or direct the disposition of securities, or has the right to acquire such powers within 60 days. Except as disclosed in the footnotes to this table, we believe that each person identified in the table has sole voting and investment power over all of the shares shown opposite such person’s name. The percentage of beneficial ownership is based