[Form 4] First Merchants Corp Insider Trading Activity

Rhea-AI Filing Summary

First Merchants Corp (FRME) Form 4 filing: Director Howard Halderman reported the acquisition of 611 common shares on 30 June 2025 at $38.30 per share, an outlay of roughly $23.4 thousand. Following the transaction, Halderman directly owns 26,649.385 shares, which include 7,796 restricted shares. He also reports 15 shares held indirectly by his son. No derivative transactions were disclosed, and no dispositions occurred. The purchase modestly increases the director’s direct stake and may be interpreted as a confidence signal, although the size represents a small fraction of the company’s outstanding shares.

Positive

• Director insider purchase: Howard Halderman bought 611 shares at $38.30, signaling incremental confidence in FRME’s prospects.

Negative

• None.

Insights

Securities Analyst

TL;DR: Small insider buy; mildly positive signal, immaterial to valuation.

The Form 4 shows Director Halderman added 611 FRME shares, bringing his direct ownership to roughly 26.6k shares. At $38.30, the transaction is only about $23k—insignificant relative to First Merchants’ market capitalization. Nonetheless, insider purchases—particularly by directors—tend to be viewed favorably as they align management with shareholders. The absence of sales or derivatives suggests straightforward accumulation. Given the limited dollar value, I classify the filing as neutral-to-slightly positive for share-price sentiment but not financially impactful.

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
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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^*

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)
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 Stock	06/30/2025		A		611	A	$38.3	26,649.385(1)	D
Common Stock								12	I	By Son
Common Stock								3	I	Held by Son

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 7,796 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 FRME shares did Director Howard Halderman buy?

He acquired 611 common shares.

At what price were the shares purchased?

The shares were bought at $38.30 per share.

What is Halderman's total direct ownership after the transaction?

He now directly owns 26,649.385 shares, including restricted stock awards.

Were any shares sold in this Form 4 filing?

No. The filing only reports an acquisition; no dispositions were noted.

Does the filing include derivative security transactions?

No derivative securities were reported in this Form 4.