First Merchants (FRME) Director Reports 642-Share Purchase at $37.70

Rhea-AI Filing Summary

Michael C. Rechin, a Director of First Merchants Corp (FRME), reported a purchase of company common stock on 09/30/2025. The filing shows a non-derivative acquisition of 642 shares at a reported price of $37.70 per share. After the purchase, the reporting person’s total direct beneficial ownership is listed as 88,598.867 shares, plus 5,120.073 shares held indirectly through a 401(k). The filing also discloses Restricted Stock Awards totaling 7,876 shares included in the ownership count. The Form 4 was signed as a confirming statement on 10/02/2025.

Positive

• Director purchase of 642 shares on 09/30/2025 at $37.70 indicates insider buying
• Total direct beneficial ownership reported as 88,598.867 shares, showing substantial stake
• Indirect ownership via 401(k) of 5,120.073 shares disclosed
• 7,876 Restricted Stock Awards explicitly included in ownership counts

Negative

• None.

Insights

Corporate Governance Expert

Director purchased company shares, modest increase in insider ownership.

The director reported acquiring 642 shares at $37.70, which raises his direct beneficial holding to 88,598.867 shares and shows an indirect stake of 5,120.073 shares via a 401(k). Such purchases by directors are a direct disclosure of insider buying and can signal confidence without disclosing intent.

If relevant, the filing also discloses 7,876 restricted shares counted within the ownership totals.

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^*

RECHIN MICHAEL C

(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)
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		642	A	$37.7	88,598.867(1)	D
Common Stock								5,120.073	I	by 401k

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 7,876 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 transaction did Michael C. Rechin report on Form 4 for FRME?

He reported a purchase of 642 shares of First Merchants Corp common stock on 09/30/2025 at a price of $37.70 per share.

How many shares does Michael C. Rechin beneficially own after the reported transaction?

The filing lists 88,598.867 shares as direct beneficial ownership following the transaction.

Does the Form 4 disclose any indirect holdings for the reporting person?

Yes. The filing reports 5,120.073 shares held indirectly through a 401(k).

Are there any restricted shares disclosed in the Form 4?

Yes. The filing states it includes Restricted Stock Awards totaling 7,876 shares.

When was the Form 4 signed or confirmed?

A confirming statement was signed on 10/02/2025 by Jacob Burkett.