First Merchants director receives 589-share award

Sondhi’s reported direct position includes 7,390 restricted stock awards, and he no longer has beneficial ownership of former spouse shares.

Rhea-AI Filing Summary

First Merchants Corp (FRME) director Jason R. Sondhi acquired 589 common shares on September 30, 2026, through a grant or award, with a reported price of $39.78 per share. This was a compensation-related acquisition, not a market purchase. His reported direct holdings after the transaction were 10,712 shares, including 7,390 restricted stock awards; the footnotes state he no longer has beneficial ownership of former spouse shares.

Insider Trade Summary

Grant/Award: 589 shares

Grant/Award 1 txn

Insider Sondhi Jason R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common F1, F2	589	$39.78	$23K

Holdings After Transaction: Common — 10,711.785 shares (Direct)

Footnotes (2)

1. F1. Includes Restricted Stock Awards totaling 7,390 shares
2. F2. The reporting person no longer has beneficial ownership of former spouse shares.

Key Figures

Award shares: 589 shares Reported price per share: $39.78 per share Direct holdings after transaction: 10,712 shares +1 more

4 metrics

Award shares 589 shares Acquired September 30, 2026

Reported price per share $39.78 per share For the September 30, 2026 grant or award

Direct holdings after transaction 10,712 shares Reported after the September 30, 2026 transaction

Restricted Stock Awards 7,390 shares Included in the reported post-transaction amount

Key Terms

Restricted Stock Awards, beneficial ownership

2 terms

Restricted Stock Awards technical

"Includes Restricted Stock Awards totaling 7,390 shares"

Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.

beneficial ownership regulatory

"no longer has beneficial ownership of former spouse shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many FRME shares did director Jason R. Sondhi receive?

Jason R. Sondhi acquired 589 common shares through a grant or award on September 30, 2026. The reported price was $39.78 per share; the transaction was compensation-related, not a market purchase.

What were Jason R. Sondhi’s direct FRME holdings after the award?

His reported direct holdings after the transaction were 10,712 shares, including 7,390 restricted stock awards. The footnotes state that he no longer has beneficial ownership of former spouse shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/02/2026 - 04:30 PM Accepted by SEC EDGAR 10/02/2026 - 04:29 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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 INDIANA 47305

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2026

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

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

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

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	09/30/2026		A		589	A	$39.78	10,711.785(1)(2)	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 7,390 shares

2. The reporting person no longer has beneficial ownership of former spouse shares.

Remarks:

	Paul Cento (Confirming Statement on File)	10/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)