Form 4: FSFG CFO Converts Shares in First Merchants Merger

First Savings Financial Group CFO Anthony Schoen reported the conversion of his common stock holdings into First Merchants Corporation shares following the merger.

Summary

• Anthony A. Schoen, Chief Financial Officer of First Savings Financial Group, Inc. (FSFG), reported changes in his beneficial ownership.
• The transaction occurred on February 1, 2026, pursuant to an Agreement and Plan of Merger dated September 24, 2025, between FSFG and First Merchants Corporation.
• Schoen disposed of a total of 196,566 shares of FSFG common stock.
• This included 129,497 shares held directly, 49,549 shares held indirectly via a 401(k) plan, and 17,520 shares held indirectly via an ESOP.
• Each outstanding share of FSFG common stock was converted into the right to receive 0.85 shares of First Merchants Corporation common stock, with cash paid in lieu of fractional shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a mandatory report of a transaction resulting from a merger, rather than an announcement of new operational performance or strategic initiatives.

Positives

• The completion of the merger indicates a successful strategic transaction for First Savings Financial Group shareholders, converting their holdings into shares of First Merchants Corporation.

Negatives

• No negative aspects are directly reported in this Form 4 filing, which is a factual report of a transaction.

Future Outlook

The future outlook for former First Savings Financial Group shareholders is now tied to the performance and strategic direction of First Merchants Corporation, as their shares have been converted into First Merchants common stock.

Industry Context

StockSavvy.ai notes that this filing reflects the ongoing consolidation trend within the U.S. regional banking sector, where smaller institutions are often acquired by larger ones to achieve economies of scale, expand market reach, and enhance competitive positioning. Such mergers typically aim to create stronger, more diversified financial entities.

Stakeholder Impact

• Shareholders of First Savings Financial Group, Inc. have had their shares converted into common stock of First Merchants Corporation, impacting their future investment returns and corporate governance rights within the new entity.

Key Dates

Keywords

First Savings Financial Group, FSFG, First Merchants Corporation, Merger, Acquisition, Insider Transaction, Beneficial Ownership, CFO, Anthony Schoen, Form 4