Company: FRME
Filing Date: 2025-10-10
Form Type: S-4
Source: 0001193125-25-237211
Chunk: 20

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-10
Form: S-4
Chunk 20
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ger Proposal, the Merger-Related Compensation
Proposal, and the Adjournment Proposal.

First Savings Recommendation to Shareholders (page [●])

First Savings’ Board of Directors unanimously approved and adopted the Merger Agreement and unanimously approved and authorized the
proposed Merger. First Savings’ Board of Directors concluded that entering into the Merger Agreement and completing the Merger and the other transactions contemplated by the Merger Agreement are in the best interest of First Savings and the
First Savings shareholders. First Savings’ Board of Directors unanimously recommends that First Savings common shareholders vote “FOR” (i) approval of the Merger Proposal, (ii) approval of the Merger-Related
Compensation Proposal, and (iii) approval of the Adjournment Proposal. In reaching its determination, First Savings’ Board of Directors considered a number of factors, which are described in the section captioned “THE MERGER –
First Savings’ Reasons for the Merger” beginning on page [●]. Because of the wide variety of factors considered, First Savings’ Board of Directors did not believe it practicable, nor did it attempt, to quantify or otherwise
assign relative weight to the specific factors it considered in reaching its decision.

First Savings Special Meeting Record Date; Vote Required (page [●])

Only First Savings common shareholders of record as of the close of business on
[●], are entitled to notice of, and to vote at, the First Savings special meeting and any adjournments or postponements of the special meeting. As of the record date, there were [●] shares of First Savings common stock outstanding.

Approval of the Merger Proposal requires the affirmative vote of holders of a majority of the outstanding shares of First Savings common stock
entitled to vote. Abstentions from voting and broker non-votes, if any, will have the effect of a vote “AGAINST” the Merger Proposal. Approval of the Merger-Related Compensation Proposal and
the Adjournment Proposal requires the affirmative vote of a majority of the shares of First Savings common stock cast at the meeting, in person or by proxy, so long as a quorum is present. As provided in the Indiana Business Corporation Law,
abstentions are not “votes cast.” As a result, abstentions and broker non-votes will have no effect on the Merger-Related Compensation Proposal or the Adjournment Proposal. You can vote your shares
by attending the First Savings special meeting and voting in person, or you can vote by proxy by marking the