FRME director granted 625 shares at $38.73

FIRST MERCHANTS CORP director Michael R. Becher received an award of 625 shares of Common Stock on March 31, 2026.

Rhea-AI Filing Summary

FIRST MERCHANTS CORP director Michael R. Becher received an award of 625 shares of Common Stock on March 31, 2026. The award was recorded at $38.73 per share and is classified as a grant or other acquisition rather than an open-market purchase.

After this award, Becher directly holds a total of 29,145.398 shares of FIRST MERCHANTS CORP Common Stock, which the footnote states includes Restricted Stock Awards totaling 8,201 shares.

Insider Trade Summary

Grant/Award: 625 shares

Grant/Award 1 txn

Insider Becher Michael R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	625	$38.73	$24K

Holdings After Transaction: Common Stock — 29,145.398 shares (Direct)

Footnotes (1)

1. F1. Includes Restricted Stock Awards totaling 8,201 shares

Key Figures

Stock award size: 625 shares Grant valuation price: $38.73 per share Total shares held after award: 29,145.398 shares +1 more

4 metrics

Stock award size 625 shares Common Stock grant to director on March 31, 2026

Grant valuation price $38.73 per share Recorded price for the 625-share award

Total shares held after award 29,145.398 shares Director’s direct holdings following the transaction

Restricted Stock Awards included 8,201 shares Portion of holdings noted as Restricted Stock Awards

Key Terms

Restricted Stock Awards, Common Stock, Grant, award, or other acquisition, Form 4

4 terms

Restricted Stock Awards financial

"Includes Restricted Stock Awards totaling 8,201 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""

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""

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

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

What insider transaction did FIRST MERCHANTS CORP (FRME) report for Michael R. Becher?

FIRST MERCHANTS CORP reported that director Michael R. Becher received an award of 625 shares of Common Stock on March 31, 2026. This is classified as a grant or other acquisition, not an open-market purchase, and increases his directly held share balance.

At what price was Michael R. Becher’s stock award in FIRST MERCHANTS CORP (FRME) recorded?

The 625-share award to Michael R. Becher was recorded at $38.73 per share. This represents the valuation used for the grant in the filing and helps investors understand the implied value of the compensation-related stock award to the company’s director.

How many FIRST MERCHANTS CORP (FRME) shares does Michael R. Becher hold after this Form 4 transaction?

Following the grant, Michael R. Becher directly holds 29,145.398 shares of FIRST MERCHANTS CORP Common Stock. A footnote explains that this total includes Restricted Stock Awards amounting to 8,201 shares, providing clarity on how much of his position is subject to restrictions.

Is Michael R. Becher’s FIRST MERCHANTS CORP (FRME) transaction a market purchase or a stock award?

The transaction is a stock award, not a market purchase. The Form 4 classifies the code as “A,” indicating a grant, award, or other acquisition of 625 Common Stock shares as compensation rather than an open-market buy on a stock exchange.

What does the footnote about Restricted Stock Awards mean in the FIRST MERCHANTS CORP (FRME) Form 4?

The footnote states that Michael R. Becher’s holdings include Restricted Stock Awards totaling 8,201 shares. This means part of his 29,145.398 directly held shares is subject to vesting or other restrictions typically tied to continued service or performance conditions.

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

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Accepted by SEC EDGAR 04/02/2026 - 05:46 PM 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^*

Becher Michael R

(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		625	A	$38.73	29,145.398(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 8,201 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)