Merchants Bancorp
For the period ended May 16, 2024. Filed Apr 5, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 16, 2024 · Filed Apr 5, 2024
MBIN$51.76-0.7%Stored close · as of Nov 6, 2026
Contents
Pay Versus Performance Table
| Value of initial fixed $100 investment based on: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Year | Summary Compensation table total for CEO (1) | Compensation actually paid to CEO | Average summary compensation table total for non-CEO NEOs (2) | Average compensation actually paid to non-CEO NEOs | Total shareholder return | Peer group total shareholder return (3) | Net income | Return on average equity |
| (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) |
| 2023 (4) | $2,839,538 | $4,982,645 | $2,768,869 | $3,191,500 | $340 | $109 | $279,234,000 | 17.63% |
| 2022 (5) | $1,908,889 | $2,317,600 | $3,038,319 | $3,227,061 | $192 | $99 | $219,721,000 | 17.21% |
| 2021 (6) | $1,549,064 | $2,159,020 | $4,922,427 | $5,895,969 | $246 | $120 | $227,104,000 | 22.07% |
| 2020 (7) | $1,578,683 | $1,842,387 | $2,984,136 | $3,225,454 | $143 | $87 | $180,533,000 | 25.09% |
| (1) | Our Chief Executive Officer for each of 2023, 2022, 2021, and 2020 was Mr. Petrie. |
| (2) | Our Non-Chief Executive Officers for 2023 and 2022 were Messrs. Dunlap, Dury, Macke, and Schroeter. Our Non-Chief Executive Officers for 2021 and 2020 were Messrs. Dunlap and Dury. |
| (3) | The peer group used was the Nasdaq Bank Index. |
| (4) | The compensation actually paid for Principal Executive Officer and our Non- Principal Executive Officers in 2023 includes portions of equity awards from 2022, 2021, and 2020 that vested that year. |
| (5) | The compensation actually paid for Principal Executive Officer and our Non- Principal Executive Officers in 2022 includes portions of equity awards from 2021, 2020, and 2019 that vested that year. |
| (6) | The compensation actually paid for Principal Executive Officer and our Non- Principal Executive Officers in 2021 includes portions of equity awards from 2020, 2019, and 2018 that vested that year. |
| (7) | The compensation actually paid for Principal Executive Officer and our Non-Principal Executive Officers in 2020 includes portions of equity awards from 2019, 2018, and 2017 that vested that year. |
The following table reconciles the Summary Compensation Table to the Pay Versus Performance Table above.
| Reconciliation: | CEO | Non-CEO Executive Officers (Averages) | ||||||
|---|---|---|---|---|---|---|---|---|
| Year | 2023 | 2022 | 2021 | 2020 | 2023 | 2022 | 2021 | 2020 |
| Summary Compensation Table Total Compensation | $2,839,538 | $1,908,889 | $1,549,064 | $1,578,683 | $2,768,869 | $3,038,319 | $4,922,427 | $2,984,136 |
| Less: Grant Date Value of Stock Awards in Fiscal Year | $(954,001) | $(858,507) | $(728,014) | $(656,264) | $(320,659) | $(289,006) | $(400,405) | $(319,391) |
| Add: Changes in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Year and Fiscal Year | $3,097,108 | $1,267,218 | $1,337,970 | $919,968 | $743,291 | $477,747 | $1,373,946 | $560,709 |
| Compensation Actually Paid | $4,982,645 | $2,317,600 | $2,159,020 | $1,842,387 | $3,191,500 | $3,227,061 | $5,895,969 | $3,225,454 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.