Company: FRME
Filing Date: 2025-09-25
Form Type: 425
Source: 0001193125-25-216443
Chunk: 1

Company: FIRST MERCHANTS CORP
Filing Date: 2025-09-25
Form: 425
Chunk 1
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 provided pursuant to Section 13(a) of the Exchange Act.☐

| Item 1.01. | Entry Into a Material Definitive Agreement. |

On September 24, 2025, First Merchants Corporation, an Indiana corporation (“First Merchants”), and First Savings Financial Group, Inc., an Indiana corporation (“First Savings”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which First Savings will, subject to the terms and conditions of the Merger Agreement, merge with and into First Merchants (the “Merger”), whereupon the separate corporate existence of First Savings will cease and First Merchants will survive. Immediately following the Merger, First Savings’ wholly owned subsidiary, First Savings Bank, shall be merged with and into First Merchants’ wholly owned subsidiary, First Merchants Bank, with First Merchants Bank as the surviving bank. A copy of the Merger Agreement is filed as Exhibit 2.1 and incorporated herein by reference. Subject to the terms and conditions of the Merger Agreement, upon the Merger becoming effective (the “Effective Time”), the common shareholders of First Savings will be entitled to receive, for each outstanding share of First Savings common stock, a 0.85 share (the “Exchange Ratio”) of First Merchants common stock, in a tax-freeexchange. The Exchange Ratio is subject to adjustments for stock splits, stock dividends, recapitalization, or similar transactions, or as otherwise described in the Merger Agreement. Fractional shares of First Merchants common stock will not be issued in respect of fractional interests arising from the Exchange Ratio but will be paid in cash pursuant to the Merger Agreement. Immediately prior to the Effective Time, each outstanding First Savings restricted stock award held by certain directors, executive officers and employees of First Savings, whether unvested or vested, will be exchanged for shares of First Merchants common stock based on the Exchange Ratio according to their respective award agreement terms. In addition, prior to the Effective Time, each outstanding option to purchase First Savings common stock, whether or not exercisable or vested, will automatically fully vest (to the extent not vested) and, at the Effective Time and to the extent not previously exercised, be canceled and First Savings or First Savings Bank will pay to the holder thereof cash in an amount equal to (i) the aggregate number of shares of First Savings common stock subject to the option, multiplied by (ii) the excess, if any, of (A) the product of the