Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 22

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 22
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 First Savings and First Merchants must carry on their business in the ordinary course and, subject to certain limited exceptions, may not take certain extraordinary actions without first obtaining the other party’s consent. We have agreed that First Savings will continue to pay quarterly dividends at no more than $0.16 per share until the Merger closes. We will each cooperate to ensure that First Savings shareholders will receive one quarterly dividend for the quarter in which the Merger closes, and not a separate dividend from both First Merchants and First Savings. Agreements of First Merchants (pages 60 and 71) In the Merger Agreement, First Merchants has agreed, among other matters, to:

| • |     | Proceed and use its reasonable and diligent efforts to obtain any consents and approvals for the Merger. See 
 “THE MERGER – Regulatory Approvals” on page 60.                                                              |

| • |     | Take action as may be necessary to allow First Savings and its subsidiaries’ employees, as soon as                                                                                                                                                    
 reasonably practicable following the effective date of the Merger, to participate in benefit plans First Merchants maintains for its employees. Until such time as participation is implemented, First Merchants will assume, honor, and continue the 
 employee plans and benefit arrangements of First Savings as in effect on the effective date of the Merger, subject to certain limitations set forth in the Merger Agreement. See “THE MERGER AGREEMENT – Employee Benefit Plans” on                   
 page 71.                                                                                                                                                                                                                                              |

| • |     | Provide, or allow for, director and officer liability insurance and indemnification. See “THE MERGER 
 AGREEMENT – Indemnification and Insurance of First Savings Directors and Officers” on page 71.       |

Management and Operations After the Merger (page 70) First Savings’ corporate existence will cease after the Merger. Accordingly, except as otherwise described herein, directors and officers 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.

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Interests of Directors and Officers in the Merger That Are Different From Your Interests (page 60) 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