First Merchants (FRME) CEO gets stock grant, withholds shares for tax
Rhea-AI Filing Summary
First Merchants Corp CEO Mark K. Hardwick received a grant of 21,000 shares of common stock at $43.63 per share. On the prior day, 5,821 shares were withheld at $43.14 to satisfy exercise price or tax obligations. He also holds phantom stock units economically equivalent to 3,354.695 shares, plus indirect common stock holdings through a 401(k) plan and a spouse IRA. Direct holdings include restricted stock awards totaling 65,384.128 shares.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Net Buyer: 15,179 shares
Net Buy
5 txns
Insider
HARDWICK MARK K
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1 | 21,000 | $43.63 | $916K |
| Exercise Price or Tax Liability | Common Stock | 5,821 | $43.14 | $251K |
| holding | Phantom Stock F2 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 132,619.799 shares (Direct);
Phantom Stock — 3,354.695 shares (Direct);
Common Stock — 17,458.923 shares (Indirect, 401(k) Plan);
Common Stock — 446 shares (Indirect, Spouse IRA)
Footnotes (2)
- F1. Includes Restricted Stock Awards totaling 65,384.128 shares.
- F2. Each share of phantom stock is the economic equivalent of one share of FRME common stock. The shares of phantom stock will be settled in cash or shares of FRME common stock, at the reporting person's election, upon separation from First Merchants.
Key Figures
Stock grant: 21,000 shares of Common Stock
Grant price: $43.63 per share
Shares withheld: 5,821 shares of Common Stock
+5 more
8 metrics
Stock grant
21,000 shares of Common Stock
Grant, award, or other acquisition on 2026-08-03 at $43.63 per share
Grant price
$43.63 per share
Value assigned to 21,000-share common stock grant
Shares withheld
5,821 shares of Common Stock
Withheld on 2026-08-02 at $43.14 to pay exercise price or tax liability
Withholding price
$43.14 per share
Per-share value for 5,821 shares withheld under code F
Phantom stock units
3,354.695 units
Phantom stock economically equivalent to the same number of FRME common shares
Restricted Stock Awards
65,384.128 shares
Restricted Stock Awards included in direct holdings per footnote
401(k) indirect holdings
17,458.923 shares of Common Stock
Indirect ownership through a 401(k) Plan
Spouse IRA holdings
446 shares of Common Stock
Indirect ownership through Spouse IRA
Key Terms
Phantom Stock, Restricted Stock Awards, 401(k) Plan, Spouse IRA
4 terms
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share of FRME common stock."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Restricted Stock Awards financial
"Includes Restricted Stock Awards totaling 65,384.128 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
"Common Stock held indirectly 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.
Spouse IRA financial
"Common Stock held indirectly through a Spouse IRA."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did FRME CEO Mark K. Hardwick report on this Form 4?
Mark K. Hardwick reported a grant of 21,000 shares of First Merchants common stock at $43.63 per share and a separate withholding of 5,821 shares at $43.14 to cover exercise price or tax liabilities, plus updated holding balances.
What phantom stock holdings tied to FRME did the CEO report?
The CEO reported 3,354.695 phantom stock units, each economically equivalent to one share of First Merchants common stock. These phantom shares will be settled in cash or FRME shares, at his election, upon separation from First Merchants, according to the disclosure.
What indirect First Merchants (FRME) holdings did the CEO disclose?
Indirectly, the CEO reported of First Merchants common stock held through a 401(k) Plan and an additional 446 shares held in a Spouse IRA. These positions are reported as indirect ownership interests in FRME common stock.
Were FRME CEO Mark Hardwick’s transactions under a Rule 10b5-1 trading plan?
The Form 4’s Rule 10b5-1 checkbox is not marked as relying on a plan, indicating these transactions are not identified as made under a pre-arranged 10b5-1 trading plan, based on the filing’s explicit plan-status field.