Form 4: First Merchants Corp: CEO Mark Hardwick Reports Phantom Stock Acquisition

Mark Hardwick, CEO of First Merchants Corp, reports the acquisition of phantom stock equivalent to 31.421 shares of common stock.

Summary

• On March 24, 2025, Mark K Hardwick, CEO of First Merchants Corp (FRME), reported the acquisition of 31.421 units of phantom stock.
• Each unit of phantom stock is equivalent to one share of FRME common stock.
• The phantom stock will be settled in cash or shares of FRME common stock upon Mr. Hardwick's separation from the company.
• The price of the phantom stock is $40.47 per share.
• Following the transaction, Mr. Hardwick directly owns 3,200.765 units of phantom stock.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't inherently convey positive or negative sentiment, but rather reports a transaction.

Future Outlook

The phantom stock will be settled in cash or shares of FRME common stock, at the reporting person's election, upon separation from First Merchants.

Industry Context

This filing is a routine disclosure of insider transactions, providing transparency to investors regarding the holdings of company executives. It's common for executives to receive stock-based compensation, such as phantom stock, as part of their overall remuneration package.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation and alignment of interests.

Key Dates

Keywords

Form 4, insider trading, phantom stock, FRME, First Merchants Corp, Mark Hardwick, CEO