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Merchants Bancorp 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and Merchants Bancorp’s Form 8-K (Item 5.07 on EDGAR). Page generated 04 October 2026.

  • 14Ballot items
  • 206Asset managers
  • 3,176Fund votes
  • 2026-05-21Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Merchants Bancorp in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by Merchants Bancorp

These tallies are Merchants Bancorp’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

Merchants Bancorp — official shareholder meeting results, meeting held 2026-05-21
Ballot itemForAgainst AbstainWithheldBroker non-votesOutcome
Elect Director: Michael F. Petrie 40,311,603---- 332,2102,093,858 Majority: yes
Elect Director: Tamika D. Catchings 34,552,845---- 6,120,9682,093,858 Majority: yes
Elect Director: Michael S. Curless 40,634,251---- 9,5622,093,858 Majority: yes
Elect Director: Thomas W. Dinwiddie 40,537,106---- 106,7072,093,858 Majority: yes
Elect Director: Michael J. Dunlap 40,238,642---- 405,1712,093,858 Majority: yes
Elect Director: Scott A. Evans 40,238,642---- 405,1712,093,858 Majority: yes
Elect Director: Andrew A. Juster 34,527,080---- 6,116,7332,093,858 Majority: yes
Elect Director: Julia L. Kaercher 39,894,133---- 749,6802,093,858 Majority: yes
Elect Director: Patrick D. O'Brien 34,579,661---- 6,064,1522,093,858 Majority: yes
Elect Director: Randall D. Rogers, Jr. 40,497,823---- 145,9902,093,858 Majority: yes
Elect Director: Anne E. Sellers 33,951,013---- 6,692,8002,093,858 Majority: yes
Elect Director: Mark E. Shaffer 40,600,459---- 43,3542,093,858 Majority: yes
Proposal 2: A non-binding, advisory vote on the compensation of the Company's named executive officers. 38,671,7511,947,56224,500 --2,093,858 Majority: yes
Proposal 3: Ratification of the appointment of Forvis Mazars, LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2026. 42,714,50318,3474,821 --0 Majority: yes

Source: Merchants Bancorp, Form 8-K — read the filing on EDGAR.

How asset managers voted at the Merchants Bancorp 2025-2026 meeting

Each item below shows how the 206 asset managers that disclosed a Merchants Bancorp vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report.

1. A non-binding, advisory vote on the compensation of the Company's Named Executive Officers.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Combines 9 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%
FOR: 38,671,751AGAINST: 1,947,562

Merchants Bancorp’s own tally for this item (“Proposal 2: A non-binding, advisory vote on the compensation of the Company's named executive officers.”): 38,671,751 for, 1,947,562 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 84% for, 4% against (88% of the company cast a for/against vote).

The 204 asset managers below cast 92% of the shares they voted on this item FOR (13,325,103 for, 1,112,855 against).

FOR 92%8%
FOR: 13,325,103 (91.8%)AGAINST: 1,112,855 (7.7%)ABSTAIN: 22,946 (0.2%)NOT VOTED: 54,461 (0.4%)
Largest asset managers voting on “A non-binding, advisory vote on the compensation of the Company's Named Executive Officers.” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,862,2323,935 00For
Vanguard1,697,9482,989 00For
American Century1,432,7560 00For
NOMURA INVESTMENT MANAGEMENT BUSINESS TRUST1,167,1120 00For
Delaware/Macquarie1,077,0830 00For
Royce558,7660 00For
Charles Schwab487,9760 00For
Fidelity483,1160 00For
GEODE CAPITAL MANAGEMENT, LLC478,6240 00For
Dimensional0473,467 00Against
BANC FUNDS CO LLC275,7620 00For
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC261,9690 00For
RBC Capital Markets, LLC211,3660 00For
Northern Trust168,721779 00For
PRINCIPAL GLOBAL INVESTORS143,8980 00For
Russell Investments0140,387 00Against
First Trust116,3570 00For
MELLON INVESTMENTS Corp106,0810 00For
Ballast Asset Management, LP94,7910 00For
UNIFIED SERIES TRUST94,7910 00For
Prudential/PGIM85,4655,809 00For
WisdomTree89,7780 00For
MACKENZIE FINANCIAL CORP087,093 00Against
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle071,864 00Against

Showing the 25 largest of 204 asset managers. See all 204 in the interactive database.

2. THE RATIFICATION OF THE APPOINTMENT OF FORVIS MAZARS, LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2026.

AUDIT-RELATEDMajority of the votes cast: yes

Combines 4 wordings of this item as funds reported it.

99.9% Majority: yes · of votes cast

FOR 99.9%
FOR: 42,714,503AGAINST: 18,347

Merchants Bancorp’s own tally for this item (“Proposal 3: Ratification of the appointment of Forvis Mazars, LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2026.”): 42,714,503 for, 18,347 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 93% for, 0.1% against (93% of the company cast a for/against vote).

The 66 asset managers below cast 100% of the shares they voted on this item FOR (8,696,445 for, 0 against).

FOR 100%
FOR: 8,696,445 (100.0%)
Largest asset managers voting on “THE RATIFICATION OF THE APPOINTMENT OF FORVIS MAZARS, LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOU” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National56,4010 00For
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable49,2760 00For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

3. Election of Directors: Andrew A. Juster

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

85% Majority: yes · of votes cast

FOR 85%WITHHELD 15%
FOR: 34,527,080WITHHELD: 6,116,733

Merchants Bancorp’s own tally for this item (“Elect Director: Andrew A. Juster”): 34,527,080 for, 6,116,733 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 75% for, 13% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (5,888,741 for, 0 against).

FOR 68%ABSTAIN 32%
FOR: 5,888,741 (67.7%)ABSTAIN: 2,806,907 (32.3%)
Largest asset managers voting on “Election of Directors: Andrew A. Juster” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,482,3410 3,0010For
Delaware/Macquarie00 1,077,0830Abstain
American Century00 697,4850Abstain
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional00 395,5590Abstain
Charles Schwab235,8800 00For
First Trust00 115,5920Abstain
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/00 75,9000Abstain
Columbia Threadneedle00 71,8640Abstain
Principal00 71,4270Abstain
Prudential/PGIM24,1000 38,7090Abstain
Jackson National46,5810 9,8200For
Russell Investments54,7510 00For
DWS00 53,2330Abstain
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS00 43,9310Abstain
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial17,8140 17,5860For
JAMES ADVANTAGE FUNDS00 23,1960Abstain

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

4. Election of Directors: Anne E. Sellers

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

84% Majority: yes · of votes cast

FOR 84%WITHHELD 16%
FOR: 33,951,013WITHHELD: 6,692,800

Merchants Bancorp’s own tally for this item (“Elect Director: Anne E. Sellers”): 33,951,013 for, 6,692,800 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 74% for, 15% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (5,391,534 for, 0 against).

FOR 62%ABSTAIN 38%
FOR: 5,391,534 (62.0%)ABSTAIN: 3,304,114 (38.0%)
Largest asset managers voting on “Election of Directors: Anne E. Sellers” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3240 180For
Delaware/Macquarie00 1,077,0830Abstain
American Century00 697,4850Abstain
Royce550,2940 00For
Fidelity5,8220 473,4810Abstain
Dimensional00 395,5590Abstain
Charles Schwab235,8800 00For
First Trust00 115,5920Abstain
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/00 75,9000Abstain
Columbia Threadneedle00 71,8640Abstain
Principal00 71,4270Abstain
Prudential/PGIM24,1000 38,7090Abstain
Jackson National46,5810 9,8200For
Russell Investments54,7510 00For
DWS00 53,2330Abstain
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS00 43,9310Abstain
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial00 35,4000Abstain
JAMES ADVANTAGE FUNDS00 23,1960Abstain

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

5. Election of Directors: Julia L. Kaercher

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%
FOR: 39,894,133WITHHELD: 749,680

Merchants Bancorp’s own tally for this item (“Elect Director: Julia L. Kaercher”): 39,894,133 for, 749,680 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 87% for, 2% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,346,811 for, 0 against).

FOR 96%
FOR: 8,346,811 (96.0%)ABSTAIN: 348,837 (4.0%)
Largest asset managers voting on “Election of Directors: Julia L. Kaercher” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,482,3550 2,9870For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab00 235,8800Abstain
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM38,7090 24,1000For
Jackson National56,4010 00For
Russell Investments00 54,7510Abstain
DWS53,2330 00For
Equitable49,2760 00For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

6. Election of Directors: Mark E. Shaffer

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%
FOR: 40,600,459WITHHELD: 43,354

Merchants Bancorp’s own tally for this item (“Elect Director: Mark E. Shaffer”): 40,600,459 for, 43,354 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.1% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,695,648 for, 0 against).

FOR 100%
FOR: 8,695,648 (100.0%)
Largest asset managers voting on “Election of Directors: Mark E. Shaffer” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National56,4010 00For
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable49,2760 00For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

7. Election of Directors: Michael F. Petrie

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.1% Majority: yes · of votes cast

FOR 99.1%
FOR: 40,311,603WITHHELD: 332,210

Merchants Bancorp’s own tally for this item (“Elect Director: Michael F. Petrie”): 40,311,603 for, 332,210 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.8% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,676,861 for, 0 against).

FOR 99.7%
FOR: 8,676,861 (99.8%)ABSTAIN: 18,787 (0.2%)
Largest asset managers voting on “Election of Directors: Michael F. Petrie” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National56,4010 00For
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

8. Election of Directors: Michael J. Dunlap

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.0% Majority: yes · of votes cast

FOR 99.0%
FOR: 40,238,642WITHHELD: 405,171

Merchants Bancorp’s own tally for this item (“Elect Director: Michael J. Dunlap”): 40,238,642 for, 405,171 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.9% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,525,462 for, 0 against).

FOR 98%
FOR: 8,525,462 (98.0%)ABSTAIN: 170,186 (2.0%)
Largest asset managers voting on “Election of Directors: Michael J. Dunlap” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree00 89,7780Abstain
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National9,8200 46,5810Abstain
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

9. Election of Directors: Michael S. Curless

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.9% Majority: yes · of votes cast

FOR 99.9%
FOR: 40,634,251WITHHELD: 9,562

Merchants Bancorp’s own tally for this item (“Elect Director: Michael S. Curless”): 40,634,251 for, 9,562 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.1% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,695,648 for, 0 against).

FOR 100%
FOR: 8,695,648 (100.0%)
Largest asset managers voting on “Election of Directors: Michael S. Curless” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National56,4010 00For
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable49,2760 00For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

10. Election of Directors: Patrick D. O'Brien

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

85% Majority: yes · of votes cast

FOR 85%WITHHELD 15%
FOR: 34,579,661WITHHELD: 6,064,152

Merchants Bancorp’s own tally for this item (“Elect Director: Patrick D. O'Brien”): 34,579,661 for, 6,064,152 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 75% for, 13% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (5,883,345 for, 0 against).

FOR 68%ABSTAIN 32%
FOR: 5,883,345 (67.7%)ABSTAIN: 2,812,303 (32.3%)
Largest asset managers voting on “Election of Directors: Patrick D. O'Brien” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3250 170For
Delaware/Macquarie00 1,077,0830Abstain
American Century00 697,4850Abstain
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional00 395,5590Abstain
Charles Schwab235,8800 00For
First Trust00 115,5920Abstain
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/00 75,9000Abstain
Columbia Threadneedle00 71,8640Abstain
Principal00 71,4270Abstain
Prudential/PGIM24,1000 38,7090Abstain
Jackson National46,5810 9,8200For
Russell Investments54,7510 00For
DWS00 53,2330Abstain
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS00 43,9310Abstain
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial17,8140 17,5860For
JAMES ADVANTAGE FUNDS00 23,1960Abstain

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

11. Election of Directors: Randall D. Rogers, Jr.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%
FOR: 40,497,823WITHHELD: 145,990

Merchants Bancorp’s own tally for this item (“Elect Director: Randall D. Rogers, Jr.”): 40,497,823 for, 145,990 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.4% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,695,648 for, 0 against).

FOR 100%
FOR: 8,695,648 (100.0%)
Largest asset managers voting on “Election of Directors: Randall D. Rogers, Jr.” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National56,4010 00For
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable49,2760 00For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

12. Election of Directors: Scott A. Evans

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.0% Majority: yes · of votes cast

FOR 99.0%
FOR: 40,238,642WITHHELD: 405,171

Merchants Bancorp’s own tally for this item (“Elect Director: Scott A. Evans”): 40,238,642 for, 405,171 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.9% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,525,462 for, 0 against).

FOR 98%
FOR: 8,525,462 (98.0%)ABSTAIN: 170,186 (2.0%)
Largest asset managers voting on “Election of Directors: Scott A. Evans” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree00 89,7780Abstain
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National9,8200 46,5810Abstain
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

13. Election of Directors: Tamika D. Catchings

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

85% Majority: yes · of votes cast

FOR 85%WITHHELD 15%
FOR: 34,552,845WITHHELD: 6,120,968

Merchants Bancorp’s own tally for this item (“Elect Director: Tamika D. Catchings”): 34,552,845 for, 6,120,968 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 75% for, 13% withheld (89% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (5,891,725 for, 0 against).

FOR 68%ABSTAIN 32%
FOR: 5,891,725 (67.8%)ABSTAIN: 2,803,923 (32.2%)
Largest asset managers voting on “Election of Directors: Tamika D. Catchings” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3250 170For
Delaware/Macquarie00 1,077,0830Abstain
American Century00 697,4850Abstain
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional00 395,5590Abstain
Charles Schwab235,8800 00For
First Trust00 115,5920Abstain
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/00 75,9000Abstain
Columbia Threadneedle00 71,8640Abstain
Principal00 71,4270Abstain
Prudential/PGIM24,1000 38,7090Abstain
Jackson National46,5810 9,8200For
Russell Investments54,7510 00For
DWS00 53,2330Abstain
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS00 43,9310Abstain
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial17,8140 17,5860For
JAMES ADVANTAGE FUNDS00 23,1960Abstain

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

14. Election of Directors: Thomas W. Dinwiddie

DIRECTOR ELECTIONSMajority of the votes cast: yes

Combines 8 wordings of this item as funds reported it.

99.7% Majority: yes · of votes cast

FOR 99.7%
FOR: 40,537,106WITHHELD: 106,707

Merchants Bancorp’s own tally for this item (“Elect Director: Thomas W. Dinwiddie”): 40,537,106 for, 106,707 withheld, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 45,935,408 outstanding shares: 88% for, 0.3% withheld (88% of the company cast a for/withheld vote).

The 65 asset managers below cast 100% of the shares they voted on this item FOR (8,675,844 for, 0 against).

FOR 99.7%
FOR: 8,675,844 (99.8%)ABSTAIN: 19,804 (0.2%)
Largest asset managers voting on “Election of Directors: Thomas W. Dinwiddie” at Merchants Bancorp, 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock2,480,2040 00For
Vanguard1,485,3420 00For
Delaware/Macquarie1,077,0830 00For
American Century697,4850 00For
Royce550,2940 00For
Fidelity479,3030 00For
Dimensional395,5590 00For
Charles Schwab235,8800 00For
First Trust115,5920 00For
UNIFIED SERIES TRUST94,7910 00For
WisdomTree89,7780 00For
HOTCHKIS & WILEY FUNDS /DE/75,9000 00For
Columbia Threadneedle71,8640 00For
Principal71,4270 00For
Prudential/PGIM62,8090 00For
Jackson National56,4010 00For
Russell Investments54,7510 00For
DWS53,2330 00For
Equitable32,6560 16,6200For
TIAA46,2570 00For
Northern Trust44,6790 00For
AMERICAN BEACON FUNDS43,9310 00For
QUANTITATIVE MASTER SERIES LLC43,5350 00For
Lincoln Financial35,4000 00For
JAMES ADVANTAGE FUNDS23,1960 00For

Showing the 25 largest of 65 asset managers. See all 65 in the interactive database.

Largest Merchants Bancorp shareholders voting in 2025-2026

Ranked by the number of Merchants Bancorp shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 45,935,408 shares outstanding at the time of that meeting.

Top Merchants Bancorp shareholders by shares voted, 2025-2026
#Asset manager % of shares outstanding
1BlackRock 6.24%
2Vanguard 3.70%
3American Century 3.12%
4NOMURA INVESTMENT MANAGEMENT BUSINESS TRUST 2.54%
5Delaware/Macquarie 2.34%
6Royce 1.22%
7Charles Schwab 1.06%
8Fidelity 1.05%
9GEODE CAPITAL MANAGEMENT, LLC 1.04%
10Dimensional 1.03%

Reported Merchants Bancorp ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

Merchants Bancorp beneficial owners on record for the 2025-2026 proxy season
Holder % outstanding Disclosure
Michael F. Petrie 27.38% 13G
BlackRock 8.82% 13F
Randall D. Rogers, Jr. 8.22% 13G
Dimensional Fund Advisors 3.83% 13F
Vanguard Group 3.08% 13F
State Street 2.25% 13F
Geode Capital 1.58% 13F
Northern Trust 0.62% 13F
Morgan Stanley 0.55% 13F
Charles Schwab 0.54% 13F

Percentages above are of 45,935,408 shares outstanding, as reported by Merchants Bancorp on its Form 10-Q dated 2026-03-31 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Merchants Bancorp’s 10-Q dated 2026-03-31. This page is a static snapshot rebuilt weekly on 04 October 2026; a live search always shows the current data.

At Merchants Bancorp's shareholder meeting held 2026-05-21, in the 2025-2026 proxy season, 206 asset managers reported how they voted on 14 ballot items in their SEC Form N-PX filings, covering 3,176 separate fund positions. On the most widely held item on that ballot — A non-binding, advisory vote on the compensation of the Company's Named Executive Officers. — FOR was 95% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: Merchants Bancorp's Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission (filing date not recorded for this item).

Merchants Bancorp proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).