[Form 4] FIRST MERCHANTS CORP Insider Trading Activity

Rhea-AI Filing Summary

Michael J. Fisher, a director of First Merchants Corp (FRME), reported a purchase of 580 shares of the company's common stock on 09/30/2025 at a reported price of $37.7 per share. After this transaction the filing shows 17,175.759 shares beneficially owned in total (direct ownership). The filing also discloses that the reporting person holds 7,359 restricted stock awards as part of that total. The Form 4 was filed as a single reporting person and carries a confirming signature dated 10/02/2025.

Insights

Corporate Governance Expert

Director purchased common stock; restricted awards disclosed.

The director-level purchase of 580 shares on 09/30/2025 increases the director's direct stake to 17,175.759 shares and is reported on Form 4. The filing also explicitly discloses 7,359 restricted stock awards, which are part of the beneficial ownership total and reflect compensation-structured holdings rather than market purchases.

Insider Transactions Analyst

Small open-market purchase at $37.7 per share was reported.

The transaction code shows an acquisition (A) of 580 shares at a reported price of $37.7 on 09/30/2025, increasing direct ownership. The Form 4 was filed by one reporting person and bears a confirming signature dated 10/02/2025, providing standard Section 16 disclosure of the change in beneficial ownership.

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

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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^*

FISHER MICHAEL J

(Last) (First) (Middle)

200 EAST 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 Stock	09/30/2025		A		580	A	$37.7	17,175.759(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 Michael J. Fisher report on Form 4?

He reported an acquisition of 580 shares of First Merchants Corp common stock on 09/30/2025 at a reported price of $37.7 per share.

How many shares does Michael J. Fisher beneficially own after the transaction?

The filing shows 17,175.759 shares beneficially owned following the reported transaction.

Does the Form 4 disclose any restricted stock awards for FRME insider?

Yes. The filing states it includes 7,359 restricted stock awards as part of the beneficial ownership.

When was the Form 4 transaction and when was the form signed?

The reported transaction date is 09/30/2025 and the confirming signature date on the form is 10/02/2025.

What is the reporting person's relationship to First Merchants Corp (FRME)?

The reporting person, Michael J. Fisher, is listed as a Director of First Merchants Corp.