[Form 4] First Merchants Corp Insider Trading Activity

Rhea-AI Filing Summary

Riley Exploration Permian, Inc. (REPX) has filed a Form 4 reporting insider activity by Chief Operating Officer John P. Suter.

On July 1, 2025, Suter automatically surrendered 1,521 common shares (transaction code F) at an indicated value of $26.23 per share. The shares were withheld exclusively to cover payroll-tax obligations created when restricted stock granted under the company’s 2021 Long-Term Incentive Plan vested. The filing explicitly states that the action "does not represent a discretionary trade."

After the withholding, Suter’s direct ownership stands at 73,964 common shares, including 70,259 restricted shares that remain subject to future vesting and other restrictions. No derivative securities were acquired or disposed of, and no new purchase or sale decisions were disclosed.

Because the transaction is routine and tax-related, it carries little strategic significance but provides investors with an updated snapshot of executive equity exposure.

Insights

Financial Analyst

TL;DR: Routine tax-withholding disposition; negligible effect on REPX fundamentals or insider sentiment.

The Form 4 shows COO John Suter surrendered 1,521 shares to satisfy withholding taxes upon restricted-stock vesting—an administrative rather than strategic move. His stake remains sizeable at 73,964 shares, preserving alignment with shareholders. No options or derivatives changed hands. Given the small size (≈2% of his holdings) and non-discretionary nature, the filing is neutral for valuation and does not alter the investment thesis.

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

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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^*

Chiang Mung

(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	06/30/2025		A		591	A	$38.3	6,570(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 6,570 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 REPX shares did COO John Suter dispose of in the Form 4?

He surrendered 1,521 common shares.

Why were the shares surrendered instead of sold on the open market?

They were withheld to cover payroll-tax liabilities arising from restricted-stock vesting.

What is John Suter’s remaining ownership in Riley Exploration Permian after the transaction?

He directly owns 73,964 common shares, of which 70,259 are still restricted.

What was the reported transaction date on the Form 4?

The disposition occurred on July 1, 2025.

At what price were the shares valued for withholding purposes?

The shares were valued at $26.23 each.