Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 183

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1C
Chunk 183
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 risks and trends are presented.

The Corporation’s Board of Directors has delegated primary responsibility for oversight of cybersecurity risk to its Risk and Credit Policy Committee, with its Audit Committee also considering cyber risk as part of financial oversight.  The Information Security Department provides an annual update to the Risk and Credit Policy Committee of the Board on the state of the Information Security Program.  This cybersecurity “deep dive” includes review of key security incidents and review of the Information Security Policy, Information Security Program, the Incident Response Plan, and the Acceptable Use Policy.  The Board is then presented with the update by the Chair of the Risk and Credit Policy Committee.The Board considers cybersecurity risks in business strategy by getting updates on the Bank’s cybersecurity risk assessment.  It assesses the experience of management personnel responsible for preventing, mitigating, detecting and remediating any cyber incidents, including the Chief Information Security Officer.

In 2022, the Board appointed Jason Sondhi to its Board of Directors. Mr. Sondhi has experience managing companies who provide endpoint detection and incident response, vulnerability scans, security information and event management, security employee training and vCISO services.  Mr. Sondhi’s cybersecurity expertise assists the Board in overseeing management’s cybersecurity related efforts. 

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