Form 4: First Merchants Corp: CEO Mark K Hardwick Reports Phantom Stock Transaction
SEC Form 4 Filing
Mark K Hardwick, CEO of First Merchants Corp, reports acquisition of phantom stock units equivalent to 0.507 shares of common stock.
Summary
- On March 6, 2024, Mark K Hardwick, the CEO of First Merchants Corp (FRME), reported a transaction involving phantom stock.
- Hardwick acquired 0.507 units of phantom stock, each equivalent to one share of FRME common stock.
- The price of the derivative security was $35.06.
- Following the transaction, Hardwick beneficially owns 3,053.301 derivative securities.
- The phantom stock will be settled in cash or shares of FRME common stock upon Hardwick's separation from First Merchants.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.
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
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a change in the CEO's holdings of company stock equivalents.
Key Dates
| Date | Description |
|---|---|
| 03/06/2024 | Date of phantom stock transaction |
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