First Savings (NASDAQ: FSFG) EVP records stock and option changes in merger

Rhea-AI Filing Summary

First Savings Financial Group executive James E. Valete reported changes in his holdings tied to the company’s merger with First Merchants Corporation. On 02/01/2026, 8,307 shares of First Savings common stock were disposed of and converted into the right to receive 0.85 shares of First Merchants common stock for each First Savings share.

In addition, a stock option covering 653 shares with a $29.00 exercise price was canceled in the merger. It was exchanged for cash equal to the number of option shares multiplied by the excess of a $32.5876 per-share cash-equivalent merger consideration over the option’s exercise price, less applicable tax withholdings.

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

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X

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^*

Valete James E.

(Last) (First) (Middle)

702 NORTH SHORE DRIVE

SUITE 300

(Street)

JEFFERSONVILLE IN 47130

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
First Savings Financial Group, Inc. [ FSFG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief SBA Lending Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/01/2026

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 Stock	02/01/2026		D		8,307	D	(1)	0	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
Stock Options	$29	02/01/2026		D			653(2)	11/21/2025	11/21/2034	Common Stock	653(2)	(2)	0	D

Explanation of Responses:

1. Pursuant to the Agreement and Plan of Merger, dated as of September 24, 2025, between the Issuer and First Merchants Corporation, each issued and outstanding share of Issuer common stock was converted into the right to receive 0.85 shares of First Merchants Corporation common stock (subject to the payment of cash in lieu of fractional shares).

2. This option was canceled in the merger in exchange for an amount of cash equal to the product of (i) the number of shares for which such option is exercisable and (ii) the excess of the per share cash equivalent consideration of $32.5876 over the per share exercise price of such option, less any applicable tax withholdings.

	/s/ Victor L. Cangelosi, pursuant to power of attorney	02/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did FSFG executive James E. Valete report?

James E. Valete reported the disposition of 8,307 shares of First Savings Financial Group common stock. These shares were converted into merger consideration from First Merchants Corporation, reflecting completion of the agreed share exchange rather than an open-market sale.

How were FSFG shares converted in the First Merchants merger?

Each First Savings Financial Group common share was converted into the right to receive 0.85 shares of First Merchants Corporation common stock. Holders may also receive cash in lieu of any fractional First Merchants shares created by applying this fixed 0.85 exchange ratio.

What happened to James E. Valete’s FSFG stock options in the merger?

A stock option for 653 First Savings Financial Group shares with a $29.00 exercise price was canceled. It was exchanged for cash based on the difference between a $32.5876 per-share cash-equivalent merger value and the exercise price, multiplied by the option shares.

Did James E. Valete retain any FSFG common stock after this Form 4?

Following the reported merger-related transaction, James E. Valete reported beneficial ownership of zero First Savings Financial Group common shares. His former holdings were converted into merger consideration from First Merchants Corporation under the agreed 0.85-for-1 exchange structure.

Is the FSFG Form 4 transaction an open-market sale by the executive?

The Form 4 shows a disposition coded “D,” but it stems from a merger conversion and option cancellation. Shares and options were exchanged for First Merchants Corporation stock and cash under a pre-agreed merger contract, not through a discretionary open-market trade.