Form 4: First Merchants Corp: CEO Acquires Phantom Stock
SEC Form 4 Filing
Mark K. Hardwick, CEO of First Merchants Corp, reports acquisition of phantom stock equivalent to 28.598 shares of common stock.
Summary
- On March 18, 2024, Mark K. Hardwick, the CEO of First Merchants Corp (FRME), acquired phantom stock.
- The phantom stock is equivalent to 28.598 shares of FRME common stock.
- The price of the derivative security is $33.01.
- Following the transaction, Hardwick beneficially owns 3,081.9 derivative securities.
- The phantom stock will be settled in cash or shares of FRME common stock upon separation from First Merchants, at Hardwick's election.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's alignment with shareholder interests.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding the CEO's holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 03/18/2024 | Date of transaction: Mark K. Hardwick acquired phantom stock. |
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