First Merchants CIO sells 4,080 shares at $43.20

FIRST MERCHANTS CORP (FRME) officer Stephan Fluhler, Chief Information Officer and Senior Vice President, reported selling 4,080 shares of common stock on 2026-08-19 at $43.20 per share in an open-market or private transaction.

Rhea-AI Filing Summary

FIRST MERCHANTS CORP (FRME) officer Stephan Fluhler, Chief Information Officer and Senior Vice President, reported selling 4,080 shares of common stock on 2026-08-19 at $43.20 per share in an open-market or private transaction. After this sale, he held 21,693.717 shares directly, which includes Restricted Stock Awards totaling 15,567.651 shares, and 3,772.608 shares indirectly through a 401(k) Plan.

Insider Trade Summary

Net Seller: 4,080 shares

Net Sell 2 txns

Insider FLUHLER STEPHAN

Role Chief Information Officer

Sold 4,080 shs ($176K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1	4,080	$43.20	$176K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 21,693.717 shares (Direct); Common Stock — 3,772.608 shares (Indirect, 401(k) Plan)

Footnotes (1)

1. F1. Includes Restricted Stock Awards totaling 15,567.651 shares

Key Figures

Shares sold: 4,080 shares Sale price per share: $43.20 per share Direct holdings after transaction: 21,693.717 shares +2 more

5 metrics

Shares sold 4,080 shares Common Stock sale on 2026-08-19

Sale price per share $43.20 per share Price for 4,080-share sale of Common Stock

Direct holdings after transaction 21,693.717 shares Direct Common Stock ownership following 2026-08-19 sale

Restricted Stock Awards included in direct holdings 15,567.651 shares Restricted Stock Awards included in post-transaction direct position

Indirect holdings (401(k) Plan) 3,772.608 shares Indirect Common Stock ownership through 401(k) Plan as of 2026-08-19

Key Terms

Restricted Stock Awards, 401(k) Plan, Common Stock, Rule 10b5-1

4 terms

Restricted Stock Awards financial

"Includes Restricted Stock Awards totaling 15,567.651 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.

401(k) Plan financial

"Indirect ownership of 3,772.608 shares through a 401(k) Plan"

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

Common Stock financial

"Sale of 4,080 shares of Common Stock at $43.20 per share"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Rule 10b5-1 regulatory

"The Rule 10b5-1 checkbox is not affirmed for this transaction"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

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

What insider transaction did FRME executive Stephan Fluhler report?

Stephan Fluhler reported a sale of 4,080 shares of FIRST MERCHANTS CORP common stock on 2026-08-19 at a price of $43.20 per share in an open-market or private transaction.

How many FRME shares does Stephan Fluhler hold directly after this Form 4?

After the reported sale, Stephan Fluhler directly holds 21,693.717 shares of FIRST MERCHANTS CORP common stock, including Restricted Stock Awards totaling 15,567.651 shares.

Does Stephan Fluhler have indirect ownership of FRME shares?

Yes. In addition to his direct holdings, Stephan Fluhler has 3,772.608 shares of FIRST MERCHANTS CORP common stock held indirectly through a 401(k) Plan as of 2026-08-19.

Was the FRME insider sale by Stephan Fluhler under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirmed (aff_10b5_one is false), and there is no footnote stating that the 4,080-share sale was made under a Rule 10b5-1 trading plan.

What type of security did Stephan Fluhler trade in this FRME Form 4?

The reported transaction involves Common Stock of FIRST MERCHANTS CORP. The Form 4 also notes that his post-transaction direct holdings include Restricted Stock Awards totaling 15,567.651 shares as part of those common stock holdings.

How many FRME shares did Stephan Fluhler sell in total according to this Form 4?

According to the transaction summary, Stephan Fluhler sold a total of 4,080 shares of FIRST MERCHANTS CORP common stock, with netBuySellShares = -4,080, indicating net selling activity in this filing.

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

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Available on EDGAR 08/21/2026 - 10:26 AM EDT Accepted by SEC EDGAR 08/21/2026 - 10:25 AM EDT 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^*

FLUHLER STEPHAN

(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)

	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Chief Information Officer		Senior Vice President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2026

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 Stock	08/19/2026		S		4,080	D	$43.2	21,693.717(1)	D
Common Stock								3,772.608	I	401(k) Plan

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 15,567.651 shares

Remarks:

	Paul Cento (Confirming Statement on File)	08/21/2026
	** 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)