Director at FIRST MERCHANTS (NASDAQ: FRME) receives 564-share stock award

Rhea-AI Filing Summary

FISHER MICHAEL J reported acquisition or exercise transactions in this Form 4 filing.

FIRST MERCHANTS CORP director Michael J. Fisher received a grant of 564 shares of Common Stock on March 31, 2026. The award was valued at $38.73 per share and increased his directly held position to 18,456.661 shares. A footnote states this total includes Restricted Stock Awards of 7,406 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider FISHER MICHAEL J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	564	$38.73	$22K

Holdings After Transaction: Common Stock — 18,456.661 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 564 shares Grant value per share: $38.73 per share Total shares after grant: 18,456.661 shares +1 more

4 metrics

Shares granted 564 shares Common Stock grant to director on March 31, 2026

Grant value per share $38.73 per share Valuation of the 564-share award

Total shares after grant 18,456.661 shares Director’s direct holdings following the transaction

Restricted Stock Awards included 7,406 shares Portion of total holdings noted in footnote

Key Terms

Restricted Stock Awards, Common Stock, Grant, award, or other acquisition, direct ownership

4 terms

Restricted Stock Awards financial

"Includes Restricted Stock Awards totaling 7,406 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.

Common Stock financial

"security_title: "Common Stock" in the reported transaction"

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.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

direct ownership financial

"ownership_type: "direct" with ownership_code "D""

Form 4 Insider Transactions: What Each Field Means →

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^*

FISHER MICHAEL J

(Last) (First) (Middle)

200 EAST JACKSON ST

(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)
03/31/2026

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	03/31/2026		A		564	A	$38.73	18,456.661(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 7,406 shares

Remarks:

	Paul Cento (Confirming Statement on File)	04/02/2026
	** 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)

FAQ

What insider transaction did FRME director Michael J. Fisher report?

Director Michael J. Fisher reported receiving a grant of 564 shares of FIRST MERCHANTS CORP Common Stock. The transaction was coded as a grant or award acquisition and is treated as compensation rather than an open-market stock purchase.

At what price was the FRME stock award to Michael J. Fisher valued?

The 564-share stock award to Michael J. Fisher was valued at $38.73 per share. This price reflects the grant value used in the Form 4, not necessarily an open-market trade price on that date.

How many FIRST MERCHANTS CORP shares does Michael J. Fisher hold after this grant?

After the 564-share grant, Michael J. Fisher directly holds 18,456.661 shares of FIRST MERCHANTS CORP Common Stock. A footnote explains that this total includes Restricted Stock Awards amounting to 7,406 shares.

Is the March 31, 2026 FRME transaction a stock purchase or compensation grant?

The March 31, 2026 transaction is a compensation-related stock grant, not an open-market purchase. It is coded as a grant, award, or other acquisition and classified as an “acquire” direction in the Form 4 data.

What does the Restricted Stock Awards footnote mean in FRME director holdings?

The footnote states that Michael J. Fisher’s total of 18,456.661 shares includes Restricted Stock Awards totaling 7,406 shares. These awards typically vest over time, tying part of his ownership to continued service or performance conditions.