[Form 4] First Merchants Corp Insider Trading Activity

Rhea-AI Filing Summary

Director Jason R. Sondhi reported a small insider acquisition in First Merchants Corp. (FRME) via a Form 4 filed on 02 Jul 2025. The filing shows that on 30 Jun 2025 he acquired 611 common shares at a stated price of $38.30 under transaction code “A,” which typically denotes a grant or award rather than an open-market purchase. After the transaction, Sondhi’s direct holdings rise to 7,685 shares (including restricted stock awards), while his indirect holdings remain at 485.073 shares held in a spouse IRA. No derivative positions or dispositions were reported.

The total value of the grant is roughly $23,400, representing a negligible proportion of FRME’s outstanding shares, so the move is unlikely to influence trading dynamics. Nonetheless, incremental ownership increases can enhance alignment between the director and outside shareholders.

Insights

Securities Analyst

TL;DR: Routine 611-share grant to director; negligible size, neutral on valuation.

The Form 4 discloses a modest equity award to Director Jason R. Sondhi at $38.30 per share, lifting his direct stake to 7,685 shares. At roughly $23k, the transaction is immaterial versus First Merchants’ market cap, carries no sale signal, and involves no derivatives. Such routine director grants are standard compensation mechanisms and should have no material impact on earnings forecasts, capital structure, or liquidity. It modestly tightens insider–shareholder alignment but offers no read-through on future fundamentals or strategy.

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^*

Sondhi Jason R

(Last) (First) (Middle)

200 E JACKSON STREET

(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		611	A	$38.3	7,685(1)	D
Common Stock								485.073	I	Spouse IRA

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 7,685 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 First Merchants (FRME) shares did Director Jason Sondhi acquire?

The Form 4 shows an acquisition of 611 common shares on 30 Jun 2025.

What is Jason Sondhi’s total direct ownership in FRME after the transaction?

Following the grant, he directly owns 7,685 shares (including restricted stock).

Was the transaction a purchase or an award?

It was coded "A," indicating an award/grant, not an open-market purchase.

Did the filing report any sales or derivative activity?

No. No sales or derivative securities were reported in this Form 4.

Does the director have any indirect holdings?

Yes, Sondhi indirectly owns 485.073 shares through a spouse’s IRA.