Company: FRME
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000712534-25-000077
Chunk: 63

Company: FIRST MERCHANTS CORP
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 63
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715, and therefore, there is no Pension Plan adjustment applicable to Compensation Actually Paid.

(8) The peer group is comprised of the KBW Nasdaq Regional Banking Index.

(9) The Company has determined that Earnings Per Share(net profit available to common shareholders divided by average diluted common shares outstanding) is the most important financial performance measure (that is not otherwise disclosed in the Pay Versus Performance Table above) used to link compensation actually paid to the Company’s NEOs for 2024 to the Company’s performance.

46 First Merchants Corporation 2025 Proxy Statement

DESCRIPTION OF RELATIONSHIPS AMONG PAY VERSUS PERFORMANCE MEASURES

Relationship Between Compensation Actually Paid and Company and Peer Group Total Shareholder Return (“TSR”)

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, the Company’s cumulative TSR over the five most recently completed fiscal years and the Company's peer group TSR over the five most recently completed fiscal years.

47 First Merchants Corporation 2025 Proxy Statement

Relationship Between Compensation Actually Paid and Net Income

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our net income during the five most recently completed fiscal years.

48 First Merchants Corporation 2025 Proxy Statement

Relationship Between Compensation Actually Paid and Earnings Per Share

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Earnings Per Share during the five most recently completed fiscal years.

TABULAR LIST OF MOST IMPORTANT PERFORMANCE MEASURES

The following list presents the financial performance measures for 2024 that the Company considers to be the most important in linking Compensation Actually Paid to its PEO and Non-PEO NEOs to Company performance.

• Earnings Per Share(net profit available to common shareholders divided by average diluted common shares outstanding);

• Commercial line-of-business net contribution to the Company's operating revenue; and

• Commercial line-of-business total operating revenue.

VOTING ITEM 2: ADVISORY VOTE TO APPROVE COMPENSATION OF NAMED EXECUTIVE OFFICERS

In accordance with Rule 14A-21(a) under the Securities Exchange Act of 1934, the Company annually includes, in association with its Annual Meeting, a separate, non-binding resolution subject to shareholder advisory vote