Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 111

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part II, Item 1A
Chunk 111
---
ITEM 1A.  RISK FACTORS

There have been no material changes to the risk factors previously disclosed in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

a. None

b. None

c. Issuer Purchases of Equity Securities

The following table presents information relating to our purchases of equity securities during the three months ended June 30, 2025.

PeriodTotal Numberof SharesPurchased (1)AveragePrice Paidper ShareTotal Number of SharesPurchased as part of Publicly announced Plans or Programs (2)Maximum Number of Sharesthat may yet be PurchasedUnder the Plans or Programs (2)April, 2025114,448 $37.61 107,808 2,624,881 May, 2025439,906 $38.01 439,790 2,185,091 June, 202534,888 $37.55 34,888 2,150,203 Total589,242 582,486 

(1)   During the three months ended June 30, 2025, there were 582,486 shares repurchased pursuant to the Corporation's share repurchase program described in note (2) below.  The amounts in April 2025 and May 2025 also includes 6,640 and 116 shares, respectively, repurchased pursuant to net settlement by employees in satisfaction of income tax withholding obligations incurred through the vesting of the Corporation's restricted stock awards and are not a part of the Corporation's share repurchase program described in note (2) below.

(2) On March 18, 2025, the Board of Directors of the Corporation approved a stock repurchase program of up to 2,927,000 shares of the Corporation's outstanding common stock; provided, however, that the total aggregate investment in shares repurchased under the program may not exceed $100,000,000.  The program does not have an expiration date.  However, it may be discontinued by the Board at any time.  Since commencing the program, the Corporation has repurchased a total of 776,797 shares of common stock for a total aggregate investment of $30.0 million.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.