Merger converts First Savings Financial (FSFG) insider shareholdings

Rhea-AI Filing Summary

First Savings Financial Group EVP and CIO Lenfield R. Basham reported stock dispositions tied to the company’s merger with First Merchants Corporation. On February 1, 2026, his common shares were converted under a merger agreement into the right to receive 0.85 shares of First Merchants Corporation stock for each First Savings share, with any fractional shares paid in cash.

The filing shows dispositions of 46,205 common shares held directly, plus 7,056 shares held indirectly through a 401(k) and 3,807 shares held indirectly through an ESOP, each at a reported price of $0.00 per share, reflecting a stock-for-stock conversion rather than an open-market sale.

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^*

Basham Lenfield R.

(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 and CIO

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		46,205	D	(1)	0	D
Common Stock	02/01/2026		D		7,056	D	(1)	0	I	By 401(k)
Common Stock	02/01/2026		D		3,807	D	(1)	0	I	By ESOP

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. 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).

	/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.
* 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).
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FAQ

What insider transaction did FSFG executive Lenfield R. Basham report?

Lenfield R. Basham reported dispositions of First Savings Financial Group common stock through a merger conversion. On February 1, 2026, his shares were converted into First Merchants Corporation stock under an agreed exchange ratio, rather than being sold on the open market for cash.

How many FSFG shares did the EVP and CIO report as disposed in the merger?

The EVP and CIO reported 46,205 common shares disposed from his direct holdings. Additional dispositions included 7,056 shares held indirectly through a 401(k) plan and 3,807 shares held indirectly through an ESOP, all recorded at a price of $0.00 per share.

What was the merger exchange ratio for FSFG common stock?

Each share of First Savings Financial Group common stock was converted into 0.85 shares of First Merchants Corporation stock. The agreement also provides for cash payments in lieu of any fractional First Merchants shares that would otherwise result from the 0.85-for-1 exchange ratio.

Why does the FSFG Form 4 show a transaction price of $0.00 per share?

The Form 4 reports a price of $0.00 because the disposition occurred via a stock-for-stock merger conversion. FSFG shares were exchanged for First Merchants Corporation shares at a fixed ratio, rather than sold for cash in the market at a specific share price.

How were FSFG shares held in benefit plans treated in the merger?

FSFG shares held in benefit plans were also converted under the merger terms. The filing lists 7,056 shares held indirectly through a 401(k) and 3,807 shares held indirectly through an ESOP, each converted into the right to receive 0.85 First Merchants Corporation shares per FSFG share.

What agreement governed the conversion of FSFG shares into First Merchants stock?

The conversion was governed by an Agreement and Plan of Merger dated September 24, 2025. This agreement between First Savings Financial Group and First Merchants Corporation specified that each issued and outstanding FSFG share would be exchanged for 0.85 First Merchants Corporation shares.