[Form 4] First Merchants Corp Insider Trading Activity

Rhea-AI Filing Summary

First Merchants Corp (FRME) – Insider Transaction Disclosure

Director Kevin D. Johnson filed a Form 4 reporting the acquisition of 571 common shares of First Merchants Corp on 06/30/2025 at a price of $38.30 per share. The purchase increases his total beneficial ownership to 7,243 shares, which the filing notes includes restricted-stock awards. The Form 4 was signed on 07/02/2025 by attorney-in-fact Jacob Burkett. No derivative securities were reported, and the ownership is listed as direct. Johnson’s status as a company Director is affirmed, and the filing was made for a single reporting person.

While modest in size (approx. $22 thousand), the purchase represents additional insider exposure to FRME equity, which some investors view as a governance or confidence signal. The filing contains no references to Rule 10b5-1 trading plans and lists no sales or dispositions.

Insights

Securities Analyst

TL;DR – Small insider purchase; neutral valuation impact.

Director Kevin D. Johnson bought 571 FRME shares at $38.30, lifting his stake to 7,243 shares. The transaction, worth roughly $22 k, is relatively minor versus First Merchants’ market capitalization, so it is unlikely to move the stock on its own. Nevertheless, continued insider accumulation can be interpreted as a marginally positive governance signal, especially given the absence of concurrent sales or derivative activity. Because no material financial metrics, earnings data, or strategic disclosures accompany the filing, I classify the impact as neutral for valuation purposes.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Johnson Kevin D

(Last) (First) (Middle)

200 E JACKSON ST

(Street)

MUNCIE IN 47305

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST MERCHANTS CORP [ FRME ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common	06/30/2025		A		571	A	$38.3	7,243(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes Restricted Stock Awards totaling 7,243 shares

Remarks:

	Jacob Burkett (Confirming Statement on File)	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many FRME shares did Director Kevin D. Johnson buy?

He acquired 571 common shares on 06/30/2025.

What is Johnson’s total ownership in First Merchants Corp after the purchase?

His beneficial ownership increased to 7,243 shares, including restricted-stock awards.

At what price were the FRME shares purchased?

The shares were bought at $38.30 per share.

When was the Form 4 for First Merchants Corp filed?

The filing was signed and submitted on 07/02/2025.

Did the Form 4 report any derivative securities or sales?

No, the filing lists no derivative transactions or share sales.