First Merchants (FRME) director increases stake with 580-share purchase

Rhea-AI Filing Summary

First Merchants Corp (FRME) director Kevin D. Johnson reported an open-market purchase of company common stock on 09/30/2025. The filing shows Mr. Johnson acquired 580 shares at a reported price of $37.70 per share, increasing his total beneficial ownership to 7,823 shares. The total holdings include 7,359 restricted stock awards, as noted in the explanation. The Form 4 was signed on 10/02/2025 and filed as a single reporting person filing. The form discloses no derivative transactions.

Positive

• Director purchased 580 shares on 09/30/2025 at $37.70 per share
• Total beneficial ownership increased to 7,823 shares, showing greater insider alignment
• Disclosure includes 7,359 restricted stock awards, clarifying composition of holdings
• Form 4 filed and signed on 10/02/2025, meeting reporting requirements

Negative

• None.

Insights

Corporate Governance Analyst

Insider purchase signals continued alignment with shareholder interests.

The director reported buying 580 shares at $37.70, increasing direct beneficial ownership to 7,823 shares, including 7,359 restricted shares. Such purchases by directors are commonly viewed as aligning management interests with shareholders because they increase the director's stake in the company.

Insider Transactions Specialist

Transaction size and disclosure are modest but properly reported.

The trade is a small non-derivative acquisition and was reported on Form 4 with a signature dated 10/02/2025, satisfying Section 16 reporting requirements. There are no derivative positions reported, and the filing itemizes restricted stock within total holdings, providing clear disclosure.

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).

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)
09/30/2025

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	09/30/2025		A		580	A	$37.7	7,823(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 7,359 shares

Remarks:

	Jacob Burkett (Confirming Statement on File)	10/02/2025
	** 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

What did FRME director Kevin D. Johnson report on Form 4?

He reported acquiring 580 shares of First Merchants Corp common stock on 09/30/2025 at a reported price of $37.70 per share.

How many shares does Kevin D. Johnson beneficially own after the transaction (FRME)?

Following the reported purchase his total beneficial ownership is 7,823 shares, which includes 7,359 restricted stock awards.

Were any derivative securities reported in this Form 4 for FRME?

No. The filing lists only a non-derivative purchase of common stock and explicitly shows no derivative transactions.

When was the Form 4 signed and filed for this FRME transaction?

The signature block is dated 10/02/2025, indicating the Form 4 was executed on that date.

Does the filing disclose indirect ownership or special arrangements?

The filing lists the ownership form for the reported holdings as Direct (D) and includes an explanation that the total includes restricted stock awards.