Current Report Filing (8-k)

 

 

 

United States

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549  

 

 

 

FORM 8-K

 

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): May 18, 2023

 

 

 

Merchants Bancorp

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Indiana		001-38258		20-5747400
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

410 Monon Boulevard
Carmel, Indiana 46032
(Address of Principal Executive Offices) (Zip Code)

 

[phone]

(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable
(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, without par value	MBIN	NASDAQ
Series A Preferred Stock, without par value	MBINP	NASDAQ
Depositary Shares, each representing a 1/40th interest in a share of Series B Preferred Stock, without par value	MBINO	NASDAQ
Depositary Shares, each representing a 1/40th interest in a share of Series C Preferred Stock, without par value	MBINN	NASDAQ
Depositary Shares, each representing a 1/40th interest in a share of Series D Preferred Stock, without par value	MBINM	NASDAQ

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

Merchants Bancorp (the “Company”) held its Annual Meeting of Shareholders on May 18, 2023. Matters voted upon by holders of the Company’s common stock were:

 

(1)

election of eleven (11) directors to the Company’s Board of Directors;

 

(2)

a non-binding, advisory vote on the compensation of the Company’s named executive officers;

 

(3)

a non-binding, advisory vote on the frequency of future voting on the compensation of the Company’s named executive officers; and

 

(4)

ratification of the appointment of BKD, LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2023.

 

The final number of votes cast for, against, or withheld, as well as the number of abstentions and broker non-votes, for each matter are detailed below.

 

1.

Election of eleven (11) members to the Company’s Board of Directors to serve until the Company’s 2024 annual meeting of shareholders and until his or her successor has been duly elected and qualified, or until his or her earlier resignation, removal, or death:

 

Director Nominee		For				Withheld				Broker Non-Votes
Michael F. Petrie			37,570,938				490,700				1,935,412
Randall D. Rogers			37,314,943				746,695				1,935,412
Tamika D. Catchings			34,864,654				3,196,984				1,935,412
Thomas W. Dinwiddie			37,395,321				666,317				1,935,412
Michael J. Dunlap			37,586,757				474,881				1,935,412
Scott A. Evans			37,576,289				485,349				1,935,412
Sue Anne Gilroy			34,849,596				3,212,042				1,935,412
Andrew A. Juster			34,869,340				3,192,298				1,935,412
Patrick D. O’Brien			34,882,458				3,179,180				1,935,412
Anne E. Sellers			34,246,328				3,815,310				1,935,412
Davie N. Shane			34,871,809				3,189,829				1,935,412

 

2.

A non-binding, advisory vote on the compensation of the Company’s named executive officers.

 

For				Against				Abstentions				Broker Non-Votes
	32,129,298				5,906,092				26,248				1,935,412

 

3.

A non-binding, advisory vote on the frequency of future voting on the compensation of the Company’s named executive officers.

 

Every Year				Every Two Years				Every Three Years				Abstentions				Broker Non-Votes
	37,364,560				4,787				650,392				41,898				1,935,412

 

4.

Ratification of the appointment of BKD, LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2023.

 

For			Against				Abstentions				Broker Non-Votes
39,913,210				70,929				12,911			N/A

 

 

 

 

Item 8.01 Other Events.

 

On May 18, 2023, the Company issued a press release announcing that the Company’s Board of Directors declared the following quarterly cash dividends:

 

·

$0.08 per share on the Company’s outstanding shares of its common stock;

 

·

$0.4375 per share on the Company’s outstanding shares of its 7% Series A preferred stock;

 

·

$15.00 per share (equivalent to $0.375 per depositary share) on the Company’s outstanding shares of its 6% Series B preferred stock;

 

·

$15.00 per share (equivalent to $0.375 per depositary share) on the Company’s outstanding shares of its 6% Series C preferred stock; and

 

·

$20.625 per share (equivalent to $0.5156 per depositary share) on the Company’s outstanding shares of its 8.25% Series D preferred stock.

 

Each of the dividends are payable on July 3, 2023 to shareholders of record on June 15, 2023.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release dated May 18, 2023 issued by Merchants Bancorp.
104		Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document.

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	MERCHANTS BANCORP
Date: May 18, 2023	By:	/s/ Terry Oznick
		Name: Terry Oznick
		Title: General Counsel and Secretary