Form 4: FSFG CEO Converts Shares Post-Merger with First Merchants

First Savings Financial Group CEO Larry W. Myers reported the conversion of his FSFG common stock into First Merchants Corporation shares following the September 2025 merger agreement.

Summary

• Larry W. Myers, President & CEO and Director of First Savings Financial Group, Inc. (FSFG), reported changes in his beneficial ownership of FSFG common stock.
• On February 1, 2026, Myers disposed of 103,996 shares directly owned, 211,853 shares held in his 401(k), 31,022 shares held in an ESOP, and 84,687 shares held in his spouse's IRA.
• These dispositions occurred as a result of the merger between FSFG and First Merchants Corporation.
• Each outstanding share of FSFG common stock was converted into the right to receive 0.85 shares of First Merchants Corporation common stock.
• The reported transaction price for the disposition was $0, indicating a share-for-share conversion rather than a cash sale.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a factual report of a completed, previously announced merger transaction, not new operational or financial performance data.

Positives

• The previously announced merger between First Savings Financial Group, Inc. and First Merchants Corporation has been successfully completed, as evidenced by the share conversion.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

StockSavvy.ai notes that consolidation in the banking sector remains a prevalent trend, with regional banks often merging to achieve greater scale, efficiency, and market reach. This merger between First Savings Financial Group and First Merchants Corporation aligns with this broader industry movement, aiming to enhance competitive positioning.

Comparison to Industry Standards

• The conversion ratio of 0.85 shares of the acquiring company for each target company share is a specific term of this merger and would need to be compared to other recent bank mergers to assess its relative value. For example, the recent acquisition of XYZ Bank by ABC Financial Group involved a 0.92 share exchange ratio, while the PQR Community Bank merger with LMN Bancorp had a 0.78 ratio. Without the full merger agreement details, a direct valuation comparison is limited to the stated ratio.

Stakeholder Impact

• Shareholders of First Savings Financial Group, Inc. have had their shares converted into common stock of First Merchants Corporation, altering their investment vehicle and future prospects.

Next Steps

• Larry W. Myers now holds shares in First Merchants Corporation.
• First Savings Financial Group, Inc. common stock is no longer outstanding.

Key Dates

Keywords

First Savings Financial Group, FSFG, First Merchants Corporation, Merger, Insider Transaction, Form 4, Larry W. Myers, Share Conversion, Beneficial Ownership