Company: FRME
Filing Date: 2025-10-10
Form Type: S-4
Source: 0001193125-25-237211
Chunk: 24

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-10
Form: S-4
Chunk 24
---
 of First Savings will not serve in such capacities after the effective date of the Merger. Upon completion of the Merger, the current officers and directors of First Merchants will continue to serve in such capacities.

11

Interests of Directors and Officers in the Merger That Are Different From Your Interests (page [● ]) You should be aware that some of directors and executive officers of First Savings and First Savings Bank may have interests in the Merger that are different from, or in addition to, their interests as shareholders. Both First Savings’ Board of Directors and First Merchants’ Board of Directors were aware of these interests and took them into consideration in approving the Merger Agreement and the Merger. These interests are as follows:

| • |     | First Savings Executive Officer Agreements. Certain executive officers of First Savings and First Savings                                                                                                                                           
 Bank currently have employment agreements and long term incentive awards that provide for cash payments, the acceleration of vesting of equity awards, and the provision of certain benefits, following a change in control of First Savings. The   
 aggregate of the cash payments and the total value of the acceleration of equity awards to be made to First Savings’ named executive officers in connection with the Merger, is estimated to be $6.0 million, based upon the average closing market 
 price of $31.38 of First Savings common stock over the five business days following the first public announcement of the Merger on September 25, 2025.                                                                                              |

| • |     | Continued Director and Officer Liability Coverage. First Merchants has agreed that for a period of six                                                                                                                                       
 years after the effective time of the Merger, it will maintain directors’ and officers’ liability insurance in force covering directors and officers of First Savings and First Savings Bank, subject to certain conditions set forth in the 
 Merger Agreement.                                                                                                                                                                                                                            |

| • |     | Board Appointments. The Merger Agreement obligates First Merchants to appoint one person who is currently                                                                                                                                                 
 a member of the First Savings Board of Directors (chosen by First Merchants after consultation with First Savings) to the First Merchants Board of Directors. Such person will be entitled to receive compensation from First Merchants for service to    
 the Board. The Merger Agreement further provides that First Merchants will cause such person to be renominated for election to the First Merchants Board of Directors at every annual shareholder meeting up to and including the 2029 annual shareholder 
 meeting. As of the date of this proxy statement and prospectus, First