Form 4: FSFG Insider Divests All Holdings Post-Merger

EVP Marie Haley reports complete divestment of First Savings Financial Group shares and options following its merger with First Merchants Corporation.

Summary

• Haley Marie, EVP/Retail Chief Officer of First Savings Financial Group, Inc. (FSFG), reported the disposition of all her beneficial ownership in FSFG securities.
• The transactions occurred on February 1, 2026, pursuant to the Agreement and Plan of Merger dated September 24, 2025, between FSFG and First Merchants Corporation.
• Marie disposed of 14,046 shares of FSFG Common Stock held directly, 4,433 shares held indirectly via a 401(k), and 96 shares held indirectly via a Trust.
• 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 in lieu of fractional shares.
• Marie also disposed of 7,500 stock options with an exercise price of $26.72, 2,964 stock options with an exercise price of $22.49, and 960 stock options with an exercise price of $29.
• These stock options were canceled in the merger in exchange for cash, calculated as the product of the number of exercisable shares and the excess of the per share cash equivalent consideration ($32.5876) over the option's exercise price, less tax withholdings.
• Following these transactions, Marie Haley beneficially owns 0 shares and 0 derivative securities of FSFG.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive event for the reporting person, as their holdings were converted or cashed out as part of a corporate merger, indicating a successful exit for FSFG shareholders.

Positives

• The reporting person received cash for their stock options, indicating a financial benefit from the merger terms.
• FSFG shareholders, including the reporting person, received consideration for their shares as part of the merger, providing a liquidity event.

Negatives

• The reporting person no longer holds any shares or options in First Savings Financial Group, Inc., indicating a complete divestment from the company due to its acquisition.

Future Outlook

This Form 4 reports a completed transaction resulting from a merger and does not contain forward-looking statements or guidance regarding the future operations or financial performance of First Merchants Corporation.

Industry Context

StockSavvy.ai notes that mergers and acquisitions are a common strategic move in the financial services sector, often driven by consolidation, economies of scale, and market expansion. This merger between First Savings Financial Group and First Merchants Corporation indicates a strategic effort by First Merchants Corporation to expand its market presence or capabilities through acquisition.

Stakeholder Impact

• Shareholders of First Savings Financial Group, Inc. received 0.85 shares of First Merchants Corporation common stock for each FSFG share, plus cash for fractional shares, effectively converting their investment.
• Option holders, including the reporting person, received a cash payout for their vested options, providing a financial benefit from the merger.

Key Dates

Keywords

FSFG, First Savings Financial Group, First Merchants Corporation, merger, insider transaction, Form 4, stock options, common stock, beneficial ownership, acquisition