Company: MBINL
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032188
Chunk: 33

Company: Merchants Bancorp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 33
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 award (i.e., for 2024 equity incentive awards, the first portion will vest on February 1, 2026). The Compensation Committee believes the vesting period for equity incentive awards is a valuable retention tool for the services of our NEOs. Benefits and Other Perquisites Our NEOs are eligible to participate in the same benefit plans designed for all of our employees, including health, dental, vision, disability, and basic group life insurance coverage. We also provide our employees, including our NEOs, with various retirement benefits. Our retirement plans are designed to assist our employees in planning for retirement and securing appropriate levels of income during retirement. The purpose of our retirement plans is to attract and retain quality employees, including executives, by offering benefit plans similar to those typically offered by our competitors. We generally do not provide perquisites to our NEOs with the exception of country club membership dues for Mr. Petrie. These plans and perquisites are described in Executive Compensation — Benefitsbelow. Stock Ownership and Hedging We do not currently require our directors or executive officers to maintain any particular level of ownership of any of our securities. However, our directors receive a portion of their retainer in the form of our common stock and our NEOs are each eligible to receive and/or have received in prior years, awards of restricted stock units as part of their compensation. Additionally, we do not currently have any prohibition on our directors, executive officers, or employees hedging or pledging any securities they may own. However, all of our directors, executive officers, and employees are subject to our Code of Conduct and insider trading policiesand directors and executive officers in particular are required to seek the approval of our General Counsel prior to engaging in any transaction in our securities. 22 COMPENSATION COMMITTEE REPORT We have reviewed and discussed the CD&A with management. Based on our review and discussion with management, we have recommended to the Board that the CD&A be included in this proxy statement and in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The Compensation Committee of the Board of Directors of Merchants Bancorp Patrick D. O’Brien, Chair Tamika D. Catchings Sue Anne Gilroy Andrew A. Juster Anne E. Sellers David N. Shane EXECUTIVE COMPENSATION The following summary compensation table shows all cash and non-cash compensation earned or deferred by our NEOs for services rendered to us and our subsidiaries in all capacities during the fiscal years ended December 31, 2024