CEO Michael Petrie was paid $2,534,695 in fiscal year 2025, ↓ down 13.8% from fiscal year 2024, the 14th percentile of its disclosed peer group (SEC filing 0001104659-26-042047 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$6,647,758 Michael Dury total, FY2025 President and Chief Executive Officer of Merchants Capital — highest-paid officer; CEO Michael Petrie: $2,534,695 | 14th CEO (Michael Petrie) pay percentile vs peers | 23:1 CEO-to-median pay ratio | 95.15% Say-on-pay support, latest vote |
Track this company's pay every filing: join the Pro seat waitlist
Velarion Pro: every company page, peer tools and exports, one seat — $1,200/year
Ask our research desk — $99, 24h, every figure cited to its filing.
MBIN's next annual pay disclosure, estimated April 16, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Dury | $330,000 | $6,303,158 | $0 | $0 | $100 | $0 | $14,500 | $6,647,758 |
| President and Chief Executive Officer of Merchants Capital | ||||||||
| Michael Petrie | 1,000,000 | 750,000 | 750,006 | 0 | 100 | 0 | 34,589 | 2,534,695 |
| Chairman of the Board and Chief Executive Officer | ||||||||
| Michael Dunlap | 975,000 | 731,250 | 731,260 | 0 | 100 | 0 | 14,500 | 2,452,110 |
| President and Chief Operating Officer of the Company and President and Chief Executive Officer of Merchants Bank | ||||||||
| Martin Schroeter | 450,000 | 900,000 | 0 | 0 | 0 | 0 | 14,500 | 1,364,500 |
| President – Warehouse Lending | ||||||||
| Sean Sievers | 625,000 | 0 | 234,393 | 0 | 234,375 | 0 | 14,500 | 1,108,268 |
| Executive Vice President and Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Dury | $6,647,758 | $6,425,485 | $6,513,440 | ↑ +222,273 |
| Michael Petrie | 2,534,695 | 2,939,929 | 2,839,538 | ↓ −405,234 |
| Michael Dunlap | 2,452,110 | 2,605,480 | 2,510,014 | ↓ −153,370 |
| Martin Schroeter | 1,364,500 | 1,274,450 | 1,214,000 | ↑ +90,050 |
| Sean Sievers | 1,108,268 | 887,622 | — | ↑ +220,646 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
You have just read Merchants Bancorp's Summary Compensation Table. The whole free brief as a PDF, emailed now, with every figure cited — then a few short notes on the deeper MBIN reports.
We send the PDF right away, then up to three short notes. Reply “unsubscribe” to any of them, any time.
Get the Merchants Bancorp Peer Teardown Report
$6,647,758 Michael Dury total, FY2025
$199
The free page is the headline. The teardown reads every company in the disclosed peer group on its own numbers.
Data as of August 24, 2026 · Source: 0001104659-26-042047 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
Reports for MBIN
Every report below is generated from the same filings as the free brief above, at the moment of purchase. What each one adds:
Order MBIN
Pick the report, add the email the receipt and the PDF go to, and pay by card on Stripe.
How we handle your data → Privacy
Each company listed discloses MBIN in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MBIN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Get the Merchants Bancorp Executive Compensation Report
$1,500
One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Martin Schroeter | President | $1,364,500 |
| Michael Dunlap | Executive | $2,452,110 |
| Michael Dury | Executive | $6,647,758 |
| Michael Petrie | CEO | $2,534,695 |
| Sean Sievers | CFO | $1,108,268 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Andrew A. Juster | Independent Director | $172,570 |
| Anne E. Sellers | Independent Director | $150,070 |
| David N. Shane | Independent Director | $157,570 |
| Patrick D. O'Brien | Director | $152,570 |
| Randall D. Rogers, Jr | Director | — |
| Scott A. Evans | Director | — |
| Sue Anne Gilroy | Independent Director | $140,070 |
| Tamika D. Catchings | Independent Director | $140,070 |
| Thomas W. Dinwiddie | Director | $140,070 |
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Michael F. Petrie | Director | 2026-05-05 | D | 10,696 | $47 | $500,038 | Common | Form 4 ↗ |
| Michael F. Petrie | Director | 2026-05-05 | D | 20,000 | 47 | 935,000 | Common | Form 4 ↗ |
| Michael F. Petrie | Director | 2026-05-06 | D | 8,334 | 47 | 390,531 | Common | Form 4 ↗ |
| Kevin T. Langford | Chief Administrative Officer | 2026-05-07 | D | 650 | 0 | 0 | Common | Form 4 ↗ |
| Michael F. Petrie | Director | 2026-05-15 | D | 16,000 | 0 | 0 | Common | Form 4 ↗ |
| Michael S. Curless | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Anne E. Sellers | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Tamika D. Catchings | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Thomas W. Dinwiddie | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Andrew A. Juster | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Patrick D. O'Brien | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Mark E. Shaffer | Director | 2026-05-21 | A | 381 | 46 | 17,537 | Common | Form 4 ↗ |
| Michael Dury | CEO of Merchants Capital | 2026-06-03 | D | 10,700 | 0 | 0 | Common | Form 4 ↗ |
| Michael F. Petrie | Director | 2026-07-30 | D | 9,000 | 55 | 496,800 | Common | Form 4 ↗ |
| Julia L. Kaercher | Director | 2026-07-30 | D | 9,000 | 55 | 496,800 | Common | Form 4 ↗ |
| Michael Dury | CEO of Merchants Capital | 2026-08-05 | D | 3,700 | 0 | 0 | Common | Form 4 ↗ |
| Thomas W. Dinwiddie | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
| Michael S. Curless | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
| Andrew A. Juster | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
| Patrick D. O'Brien | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
| Anne E. Sellers | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
| Mark E. Shaffer | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
| Tamika D. Catchings | Director | 2026-08-20 | A | 328 | 54 | 17,548 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Sean Sievers | RSU | 2024-12-31 | — | — | 6,427 | — | $234,393 |
| Michael Dunlap | RSU | 2024-12-31 | — | — | 20,051 | — | 731,260 |
| Michael Petrie | RSU | 2024-12-31 | — | — | 20,565 | — | 750,006 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Sean Sievers | $234,393 | $0 | $0 | 0.0% |
| Michael Dunlap | 731,260 | 0 | 0 | 0.0% |
| Michael Petrie | 750,006 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Michael Dunlap | RSU | 50,744 | — | $1,728,341 |
| Michael Dury | RSU | 13,378 | — | 455,655 |
| Sean Sievers | RSU | 2,261 | — | 77,010 |
| Michael Petrie | RSU | 58,203 | — | 1,982,394 |
| Martin Schroeter | RSU | 1,601 | — | 54,530 |
We structure our executive compensation program to align with our overall expectations and to motivate our NEOs to drive actual results, but at the same time not encourage excessive risk taking behaviors.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Aon |
| Clawback policy | True |
| Anti-hedging | False |
| Anti-pledging | False |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-21 | 38,671,751 | 1,947,562 | 24,500 | 95.15% | Passed |
| 2025 | 2025-05-15 | 35,179,573 | 3,025,735 | 2,214,193 | 87.04% | Passed |
| 2024 | 2024-05-16 | 18,673,178 | 7,634,582 | 5,741 | 70.96% | Passed |
| 2023 | 2023-05-18 | 32,129,298 | 5,906,092 | 26,248 | 84.41% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-21 | 95.15%a |
| 2025 | 2025-05-15 | 87.04%b |
| 2024 | 2024-05-16 | 70.96%c |
a. Approved under the standard stated in the filing — “With respect to say-on-pay and the ratification of the selection of Forvis Mazars, LLP, abstentions and broker non-votes have the same effect as a vote against the proposal.”.
b. Approved under the standard stated in the filing — “With respect to say-on-pay and the ratification of the selection of Forvis Mazars, LLP, abstentions and broker non-votes have the same effect as a vote against the proposal.”.
c. Approved under the standard stated in the filing — “With respect to say-on-pay and the ratification of the selection of FORVIS, LLP, abstentions and broker non-votes have the same effect as a vote against the proposal.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 23 : 1 |
|---|---|
| CEO total compensation | $2,534,695 |
| Median employee compensation | $109,081 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Andrew A. JusterIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance · Risk | $102,500 | $70,070 | $0 | $0 | $0 | $172,570 |
| David N. ShaneIndependent · Audit · Compensation · Nominating and Corporate Governance · Risk (Chair) · Not standing for re-election | 87,500 | 70,070 | 0 | 0 | 0 | 157,570 |
| Patrick D. O'Brien | 82,500 | 70,070 | 0 | 0 | 0 | 152,570 |
| Anne E. SellersIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) · Risk | 80,000 | 70,070 | 0 | 0 | 0 | 150,070 |
| Sue Anne GilroyIndependent · Audit · Compensation · Nominating and Corporate Governance · Risk · Not standing for re-election | 70,000 | 70,070 | 0 | 0 | 0 | 140,070 |
| Tamika D. CatchingsIndependent · Audit · Compensation · Nominating and Corporate Governance · Risk | 70,000 | 70,070 | 0 | 0 | 0 | 140,070 |
| Thomas W. DinwiddieNot independent · Risk | 70,000 | 70,070 | 0 | 0 | 0 | 140,070 |
| Randall D. Rogers, JrEmployee director · Newly elected | — | — | — | — | — | 0 |
| Michael F. PetrieEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Michael J. DunlapEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Scott A. EvansEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Mark E. ShafferIndependent · Partial-year service · Newly elected | — | — | — | 0 | — | — |
| Michael S. CurlessIndependent · Partial-year service · Newly elected | — | — | — | 0 | — | — |
| Julia L. KaercherNot independent · Partial-year service · Newly elected | — | — | — | 0 | — | — |
| Annual cash retainer | $140,000 |
|---|---|
| Annual equity retainer | $70,070 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 12,500 / 15,000 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $562,500 |
| Equity awards (grant-date value) | $490,490 |
| All other compensation | $0 |
| Total cost of the board | $1,052,990 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Merchants Bancorp names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Merchants Bancorp.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Walker & Dunlop Inc. | 2025 | William Walker | $1,000,000 | $13,170,931 | $0 | $1,324,821 | $15,500,252 |
| 2 | Customers Bancorp Inc. | 2025 | Sam Sidhu | 725,000 | 12,077,187 | 0 | 0 | 12,927,331 |
| 3 | Texas Capital Bancshares Inc. | 2025 | Rob Holmes | 1,100,000 | 4,473,537 | 0 | 2,079,000 | 7,918,150 |
| 4 | United Bankshares Inc. | 2025 | Richard Adams Jr. | 1,131,731 | 2,643,865 | 0 | 2,199,120 | 6,140,650 |
| 5 | WSFS Financial Corp. | 2025 | Rodger Levenson | 1,004,500 | 2,562,293 | 0 | 1,550,312 | 5,173,260 |
| 6 | Eastern Bankshares Inc. | 2025 | Denis Sheahan | 800,000 | 3,371,297 | 0 | 792,000 | 5,069,867 |
| 7 | Atlantic Union Bankshares Corp. | 2025 | John Asbury | 1,018,875 | 2,364,373 | 0 | 1,526,114 | 5,066,713 |
| 8 | WesBanco Inc. | 2025 | Jeffrey Jackson | 962,325 | 1,685,520 | 29,300 | 1,633,500 | 4,683,980 |
| 9 | First Interstate BancSystem | 2025 | James Reuter | 1,000,000 | 2,534,832 | 0 | 1,044,000 | 4,615,009 |
| 10 | Dime Community Bancshares Inc. | 2025 | Stuart Lubow | 1,043,164 | 1,163,271 | 0 | 1,246,861 | 4,108,525 |
| 11 | WaFd Inc. | 2025 | Brent Beardall | 1,050,000 | 1,567,414 | 0 | 997,500 | 3,822,631 |
| 12 | CVB Financial Corp. | 2025 | David Brager | 928,846 | 1,647,007 | 0 | 883,500 | 3,803,565 |
| 13 | Trustmark Corp. | 2025 | Duane Dewey | 896,000 | 991,904 | 0 | 1,507,473 | 3,635,690 |
| 14 | Independent Bank Corp. | 2025 | Jeffrey Tengel | 1,097,385 | 1,094,318 | 0 | 1,123,669 | 3,606,962 |
| 15 | Banner Corp. | 2025 | Mark Grescovich | 949,816 | 1,327,276 | 0 | 1,147,366 | 3,590,983 |
| 16 | Provident Financial Services | 2025 | Anthony Labozzetta | 998,077 | 1,200,000 | — | 1,111,950 | 3,521,400 |
| 17 | First Financial Bancorp | 2025 | Archie Brown | 893,010 | 1,294,888 | 0 | 803,447 | 3,279,532 |
| 18 | NBT Bancorp Inc. | 2025 | Scott A. Kingsley | 820,192 | 663,375 | 0 | 670,292 | 2,990,037 |
| 19 | Merchants Bancorp | 2025 | Michael Petrie | 1,000,000 | 750,006 | 0 | 100 | 2,534,695 |
| 20 | Lakeland Financial Corp. | 2025 | David Findlay | 739,654 | 1,304,582 | 0 | 393,128 | 2,473,892 |
| 21 | First Merchants Corp. | 2025 | Mark Hardwick | 826,538 | 787,290 | 0 | 657,924 | 2,398,488 |
| 22 | QCR Holdings Inc | 2025 | Todd Gipple | 430,760 | 490,389 | 0 | 558,146 | 1,713,726 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Merchants Bancorp | not disclosed | RSU 100 | not disclosed | Aon |
| Atlantic Union Bankshares Corp. | 149% | PSU 60 · RSU 40 | Yes — Total Shareholder Return (TSR) - Relative to KBW Regional Banking Index | Meridian Compensation Partners, LLC |
| Banner Corp. | 110% | PSU 60 · RSU 40 | Yes — Total Shareholder Return (TSR) | Pearl Meyer & Partners |
| Customers Bancorp Inc. | 122.05% | PSU 60 · RSU 40 | No | Aon Consulting, Inc. |
| CVB Financial Corp. | 95% | PSU 50 · RSU 50 | No | Pearl Meyer |
| Dime Community Bancshares Inc. | not disclosed | not disclosed | No | Pay Governance |
| Eastern Bankshares Inc. | not disclosed | PSU 60 · RSU 40 | Yes — Relative Total Shareholder Return (“TSR”) vs. KRX Banks | Pearl Meyer |
| First Financial Bancorp | 100.4% | PSU 50 · RSU 50 | No | Meridian Compensation Partners, LLC |
| First Interstate BancSystem | not disclosed | PSU 60 · RSU 40 | No | Pearl Meyer |
| First Merchants Corp. | 99% | RSU 100 | not disclosed | Aon |
| Independent Bank Corp. | not disclosed | PSU 57 · RSU 43 | No | Mercer |
| Lakeland Financial Corp. | 106% | PSU 60 · RSU 40 | No | Pearl Meyer & Partners |
| NBT Bancorp Inc. | 108.33% | PSU 50 · RSU 50 | Yes — Relative 3-year TSR | Meridian Compensation Partners, LLC |
| Provident Financial Services | 123.55% | PSU 75 · RSU 25 | No | FW Cook |
| QCR Holdings Inc | not disclosed | RSU 100 | not disclosed | Frederic W. Cook & Co., Inc. |
| Texas Capital Bancshares Inc. | not disclosed | PRSU 50 · RSU 50 | not disclosed | Pearl Meyer |
| Trustmark Corp. | 181% | PSU 50 · RSU 50 | Yes — Total Shareholder Return (TSR) relative to peer group | Pearl Meyer |
| United Bankshares Inc. | 152% | PRSU 60 · RSU 40 | No | Aon |
| WaFd Inc. | not disclosed | not disclosed | No | Pearl Meyer |
| Walker & Dunlop Inc. | 132% | not disclosed | No | Pay Governance |
| WesBanco Inc. | 150% | not disclosed | No | AON Consulting |
| WSFS Financial Corp. | 154% | PSU 60 · RSU 40 | No | Frederic W. Cook & Co., Inc. |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Michael Dury | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Summary Compensation Table”. As printed: 6,647,758. Filing ↗machine: span 293388–293397 |
| 2 | Section 01, Michael Petrie | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Summary Compensation Table”. As printed: 2,534,695. Filing ↗machine: span 285536–285545 |
| 3 | Section 01, Michael Dunlap | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Summary Compensation Table”. As printed: 2,452,110. Filing ↗machine: span 289284–289293 |
| 4 | Section 01, Martin Schroeter | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Summary Compensation Table”. As printed: 1,364,500. Filing ↗machine: span 297444–297453 |
| 5 | Section 01, Sean Sievers | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Summary Compensation Table”. As printed: 1,108,268. Filing ↗machine: t84 · r5 · c21 · span 301396–301405 |
| 6 | Section 03, Sean Sievers RSU | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t91 · r5 · c11 · span 334705–334712 |
| 7 | Section 03, Michael Dunlap RSU | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t91 · r2 · c11 · span 331305–331312 |
| 8 | Section 03, Michael Petrie RSU | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t91 · r1 · c11 · span 330121–330128 |
| 9 | Section 07, pay ratio | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “CEO Pay Ratio”. As printed: 23 : 1. Filing ↗machine: t114 · r0 · c3 · span 375250–375257 |
| 10 | Section 08, Andrew A. Juster | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 172,570. Filing ↗machine: t52 · r4 · c11 · span 120921–120928 |
| 11 | Section 08, David N. Shane | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 157,570. Filing ↗machine: t52 · r7 · c11 · span 124267–124274 |
| 12 | Section 08, Patrick D. O'Brien | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 152,570. Filing ↗machine: t52 · r5 · c11 · span 122054–122061 |
| 13 | Section 08, Anne E. Sellers | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 150,070. Filing ↗machine: t52 · r6 · c11 · span 123144–123151 |
| 14 | Section 08, Sue Anne Gilroy | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 140,070. Filing ↗machine: t52 · r3 · c11 · span 119829–119836 |
| 15 | Section 08, Tamika D. Catchings | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 140,070. Filing ↗machine: t52 · r1 · c11 · span 117600–117607 |
| 16 | Section 08, Thomas W. Dinwiddie | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 140,070. Filing ↗machine: t52 · r2 · c11 · span 118705–118712 |
| 17 | Section 08, Randall D. Rogers, Jr | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 08, Michael F. Petrie | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 08, Michael J. Dunlap | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 20 | Section 08, Scott A. Evans | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 08, Mark E. Shaffer | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 22 | Section 08, Michael S. Curless | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 23 | Section 08, Julia L. Kaercher | DEF 14A | 2026-04-10 | 0001104659-26-042047 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 24 | Section 02, Michael F. Petrie 2026-05-05 | Form 4 | 2026-05-07 | 0001718348-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Michael F. Petrie 2026-05-05 | Form 4 | 2026-05-07 | 0001718348-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Michael F. Petrie 2026-05-06 | Form 4 | 2026-05-07 | 0001718348-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Kevin T. Langford 2026-05-07 | Form 4 | 2026-05-07 | 0001571084-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Michael F. Petrie 2026-05-15 | Form 4 | 2026-05-19 | 0001718348-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Michael S. Curless 2026-05-21 | Form 4 | 2026-05-26 | 0001104659-26-066254 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Anne E. Sellers 2026-05-21 | Form 4 | 2026-05-26 | 0001719301-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Tamika D. Catchings 2026-05-21 | Form 4 | 2026-05-26 | 0001920856-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Thomas W. Dinwiddie 2026-05-21 | Form 4 | 2026-05-26 | 0001922063-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Andrew A. Juster 2026-05-21 | Form 4 | 2026-05-26 | 0001235743-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Patrick D. O'Brien 2026-05-21 | Form 4 | 2026-05-26 | 0001719805-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Mark E. Shaffer 2026-05-21 | Form 4 | 2026-05-26 | 0002135516-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Michael Dury 2026-06-03 | Form 4 | 2026-06-05 | 0001718356-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Michael F. Petrie 2026-07-30 | Form 4 | 2026-07-31 | 0001718348-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Julia L. Kaercher 2026-07-30 | Form 4 | 2026-07-31 | 0002135960-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Michael Dury 2026-08-05 | Form 4 | 2026-08-07 | 0001718356-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Thomas W. Dinwiddie 2026-08-20 | Form 4 | 2026-08-24 | 0001922063-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Michael S. Curless 2026-08-20 | Form 4 | 2026-08-24 | 0001580949-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Andrew A. Juster 2026-08-20 | Form 4 | 2026-08-24 | 0001235743-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, Patrick D. O'Brien 2026-08-20 | Form 4 | 2026-08-24 | 0001719805-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Anne E. Sellers 2026-08-20 | Form 4 | 2026-08-24 | 0001719301-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 02, Mark E. Shaffer 2026-08-20 | Form 4 | 2026-08-24 | 0002135516-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 46 | Section 02, Tamika D. Catchings 2026-08-20 | Form 4 | 2026-08-24 | 0001920856-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 47 | Section 06, 2026 vote | Form 8-K | 2026-05-21 | 0001104659-26-065139 | Item 5.07 · say-on-pay result. As reported: 95.15% (votes for as printed: 38,671,751). Filing ↗ |
| 48 | Section 06, 2025 vote | Form 8-K | 2025-05-15 | 0001104659-25-049413 | Item 5.07 · say-on-pay result. As reported: 87.04% (votes for as printed: 35,179,573). Filing ↗ |
| 49 | Section 06, 2024 vote | Form 8-K | 2024-05-16 | 0001104659-24-062587 | Item 5.07 · say-on-pay result. As reported: 70.96%. Filing ↗ |
| 50 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 51 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 52 | Section 09b board cost (computed) | Computed | — | — | Cash 562,500 + equity 490,490 + all other 0 = 1,052,990, summed across the director compensation table rows.machine: formula: Σ = 1,052,990 |
| 53 | Walker & Dunlop Inc., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001104659-26-038515 | CEO total compensation as printed in Walker & Dunlop Inc.'s own proxy. As printed: 15,500,252. Filing ↗machine: t197 · r6 · c14 · span 849398–849408 |
| 54 | Customers Bancorp Inc., Section 10b CEO total | DEF 14A | 2026-04-14 | 0001488813-26-000048 | CEO total compensation as printed in Customers Bancorp Inc.'s own proxy. As printed: 12,927,331. Filing ↗machine: r5 · c48 · span 1289091–1289101 |
| 55 | Texas Capital Bancshares Inc., Section 10b CEO total | DEF 14A | 2026-03-12 | 0001077428-26-000040 | CEO total compensation as printed in Texas Capital Bancshares Inc.'s own proxy. As printed: 7,918,150. Filing ↗machine: t153 · r3 · c18 · span 1326337–1326346 |
| 56 | United Bankshares Inc., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001193125-26-135771 | CEO total compensation as printed in United Bankshares Inc.'s own proxy. As printed: 6,140,650. Filing ↗ |
| 57 | WSFS Financial Corp., Section 10b CEO total | DEF 14A | 2026-04-02 | 0000828944-26-000009 | CEO total compensation as printed in WSFS Financial Corp.'s own proxy. As printed: 5,173,260. Filing ↗machine: r2 · c7 · span 2047944–2047953 |
| 58 | Eastern Bankshares Inc., Section 10b CEO total | DEF 14A | 2026-03-26 | 0001193125-26-126283 | CEO total compensation as printed in Eastern Bankshares Inc.'s own proxy. As printed: 5,069,867. Filing ↗machine: span 693146–693155 |
| 59 | Atlantic Union Bankshares Corp., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001104659-26-034176 | CEO total compensation as printed in Atlantic Union Bankshares Corp.'s own proxy. As printed: 5,066,713. Filing ↗machine: t223 · r5 · c14 · span 1303349–1303358 |
| 60 | WesBanco Inc., Section 10b CEO total | DEF 14A | 2026-03-13 | 0001193125-26-106165 | CEO total compensation as printed in WesBanco Inc.'s own proxy. As printed: 4,683,980. Filing ↗machine: t44 · r4 · c33 · span 992115–992124 |
| 61 | First Interstate BancSystem, Section 10b CEO total | DEF 14A | 2026-04-16 | 0000860413-26-000025 | CEO total compensation as printed in First Interstate BancSystem's own proxy. As printed: 4,615,009. Filing ↗machine: r2 · c8 · span 1699688–1699697 |
| 62 | Dime Community Bancshares Inc., Section 10b CEO total | DEF 14A | 2026-04-13 | 0001104659-26-042646 | CEO total compensation as printed in Dime Community Bancshares Inc.'s own proxy. As printed: 4,108,525. Filing ↗ |
| 63 | WaFd Inc., Section 10b CEO total | DEF 14A | 2025-12-19 | 0000936528-25-000121 | CEO total compensation as printed in WaFd Inc.'s own proxy. As printed: 3,822,631. Filing ↗ |
| 64 | CVB Financial Corp., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001193125-26-144078 | CEO total compensation as printed in CVB Financial Corp.'s own proxy. As printed: 3,803,565. Filing ↗machine: r5 · c18 · span 2182555–2182564 |
| 65 | Trustmark Corp., Section 10b CEO total | DEF 14A | 2026-03-16 | 0001193125-26-107265 | CEO total compensation as printed in Trustmark Corp.'s own proxy. As printed: 3,635,690. Filing ↗machine: span 654014–654023 |
| 66 | Independent Bank Corp., Section 10b CEO total | DEF 14A | 2026-03-26 | 0000776901-26-000079 | CEO total compensation as printed in Independent Bank Corp.'s own proxy. As printed: 3,606,962. Filing ↗machine: span 925147–925156 |
| 67 | Banner Corp., Section 10b CEO total | DEF 14A | 2026-04-06 | 0000946673-26-000114 | CEO total compensation as printed in Banner Corp.'s own proxy. As printed: 3,590,983. Filing ↗machine: r3 · c27 · span 600291–600300 |
| 68 | Provident Financial Services, Section 10b CEO total | DEF 14A | 2026-04-08 | 0001308179-26-000226 | CEO total compensation as printed in Provident Financial Services's own proxy. As printed: 3,521,400. Filing ↗machine: r1 · c24 · span 586981–586990 |
| 69 | First Financial Bancorp, Section 10b CEO total | DEF 14A | 2026-04-16 | 0001104659-26-043973 | CEO total compensation as printed in First Financial Bancorp's own proxy. As printed: 3,279,532. Filing ↗machine: r1 · c48 · span 1395438–1395448 |
| 70 | NBT Bancorp Inc., Section 10b CEO total | DEF 14A | 2026-04-06 | 0001140361-26-013237 | CEO total compensation as printed in NBT Bancorp Inc.'s own proxy. As printed: 2,990,037. Filing ↗machine: r2 · c22 · span 862129–862138 |
| 71 | Merchants Bancorp (subject), Section 10b CEO total | DEF 14A | 2026-04-10 | 0001104659-26-042047 | CEO total compensation as printed in Merchants Bancorp's own proxy. As printed: 2,534,695. Filing ↗machine: span 285536–285545 |
| 72 | Lakeland Financial Corp., Section 10b CEO total | DEF 14A | 2026-03-05 | 0000721994-26-000036 | CEO total compensation as printed in Lakeland Financial Corp.'s own proxy. As printed: 2,473,892. Filing ↗machine: span 916200–916209 |
| 73 | First Merchants Corp., Section 10b CEO total | DEF 14A | 2026-04-03 | 0000712534-26-000025 | CEO total compensation as printed in First Merchants Corp.'s own proxy. As printed: 2,398,488. Filing ↗machine: r2 · c21 · span 541256–541266 |
| 74 | QCR Holdings Inc, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001171843-26-002356 | CEO total compensation as printed in QCR Holdings Inc's own proxy. As printed: 1,713,726. Filing ↗machine: span 516480–516489 |
| 75 | Section 10a, First Interstate BancSystem reciprocity | DEF 14A | — | 0000860413-26-000025 | First Interstate BancSystem's most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 76 | Section 10a, Customers Bancorp Inc. reciprocity | DEF 14A | — | 0001488813-26-000048 | Customers Bancorp Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 77 | Section 10a, NBT Bancorp Inc. reciprocity | DEF 14A | — | 0001140361-26-013237 | NBT Bancorp Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 78 | Section 10a, Dime Community Bancshares Inc. reciprocity | DEF 14A | — | 0001104659-26-042646 | Dime Community Bancshares Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 79 | Section 10a, QCR Holdings Inc reciprocity | DEF 14A | — | 0001171843-26-002356 | QCR Holdings Inc's most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 80 | Section 10a, Texas Capital Bancshares Inc. reciprocity | DEF 14A | — | 0001077428-26-000040 | Texas Capital Bancshares Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 81 | Section 10a, First Merchants Corp. reciprocity | DEF 14A | — | 0000712534-26-000025 | First Merchants Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 82 | Section 10a, United Bankshares Inc. reciprocity | DEF 14A | — | 0001193125-26-135771 | United Bankshares Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 83 | Section 10a, Eastern Bankshares Inc. reciprocity | DEF 14A | — | 0001193125-26-126283 | Eastern Bankshares Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 84 | Section 10a, WesBanco Inc. reciprocity | DEF 14A | — | 0001193125-26-106165 | WesBanco Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 85 | Section 10a, Banner Corp. reciprocity | DEF 14A | — | 0000946673-26-000114 | Banner Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 86 | Section 10a, CVB Financial Corp. reciprocity | DEF 14A | — | 0001193125-26-144078 | CVB Financial Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 87 | Section 10a, First Financial Bancorp reciprocity | DEF 14A | — | 0001104659-26-043973 | First Financial Bancorp's most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 88 | Section 10a, Independent Bank Corp. reciprocity | DEF 14A | — | 0000776901-26-000079 | Independent Bank Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 89 | Section 10a, Lakeland Financial Corp. reciprocity | DEF 14A | — | 0000721994-26-000036 | Lakeland Financial Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 90 | Section 10a, Provident Financial Services reciprocity | DEF 14A | — | 0001308179-26-000226 | Provident Financial Services's most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 91 | Section 10a, Trustmark Corp. reciprocity | DEF 14A | — | 0001193125-26-107265 | Trustmark Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 92 | Section 10a, WaFd Inc. reciprocity | DEF 14A | — | 0000936528-25-000121 | WaFd Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 93 | Section 10a, Walker & Dunlop Inc. reciprocity | DEF 14A | — | 0001104659-26-038515 | Walker & Dunlop Inc.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 94 | Section 10a, WSFS Financial Corp. reciprocity | DEF 14A | — | 0000828944-26-000009 | WSFS Financial Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
| 95 | Section 10a, Atlantic Union Bankshares Corp. reciprocity | DEF 14A | — | 0001104659-26-034176 | Atlantic Union Bankshares Corp.'s most recent proxy was read; its disclosed peer group does not include Merchants Bancorp. Filing ↗ |
The Pay Desk — the free weekly executive pay briefing, one company at a time, every number traceable to a public filing.
You'll confirm on The Pay Desk's sign-up page.
Get the Merchants Bancorp Executive Compensation Report
$1,500