[Form 4] FIRST MERCHANTS CORP Insider Trading Activity

Rhea-AI Filing Summary

Director Howard Halderman bought 621 shares of First Merchants Corp (FRME) on 09/30/2025 at $37.70 per share, increasing his reported direct beneficial ownership to 27,436.837 shares. The filing also notes that the total includes 7,902 restricted stock awards. The Form 4 was filed as a single reporting person report and bears a signature dated 10/02/2025. The document identifies Halderman as a director and shows the transaction as an acquisition of common stock. No options, dispositions, or other derivative transactions are reported in this filing.

Positive

• Director acquisition: Howard Halderman purchased 621 shares at $37.70 on 09/30/2025
• Clear beneficial ownership disclosure: Direct holdings reported as 27,436.837 shares
• Restricted awards disclosed: Filing notes 7,902 restricted stock awards included in total

Negative

• None.

Insights

Corporate Governance Analyst

Insider purchased a modest number of shares, modestly increasing ownership.

Howard Halderman, a company director, reported an open-market acquisition of 621 shares at $37.70, raising his direct holdings to 27,436.837 shares. The filing also discloses 7,902 restricted stock awards included in his total holdings, indicating part of his stake stems from compensation-related equity rather than only purchases.

Insider Transaction Specialist

Transaction is clearly documented but appears non-material in size relative to typical market-moving events.

The Form 4 records a standard Section 16 acquisition with no derivatives or dispositions noted. The filing provides exact transaction date and price, enabling traceability; however, the reported quantity (621 shares) and the nature of the holding (restricted awards included) suggest this is a routine insider purchase/compensation update rather than a material capitalization change.

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).

1. Name and Address of Reporting Person^*

Halderman Howard

(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 Stock	09/30/2025		A		621	A	$37.7	27,436.837(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 7,902 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 Howard Halderman report on Form 4 for FRME?

He reported an acquisition of 621 shares of First Merchants Corp at $37.70 per share on 09/30/2025, raising his direct holdings to 27,436.837 shares.

Does the Form 4 for FRME show any option exercises or dispositions?

No. The filing lists only a non-derivative acquisition of common stock; there are no reported option exercises or dispositions.

How much of Halderman's reported holdings are restricted stock awards?

The filing explicitly states it includes 7,902 restricted stock awards in the reported total.

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

The transaction date is 09/30/2025 and the reporting person signed the form on 10/02/2025.

Is this a joint filing or filed by one reporting person?

The Form 4 is filed by one reporting person (Howard Halderman).