Company: FRME
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000712534-25-000077
Chunk: 8

Company: FIRST MERCHANTS CORP
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 8
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 son, Joe Halderman, 3 shares held by son, Jake Halderman, and 1 share owned jointly with his spouse.

(7) Includes 58,067 Restricted Shares, 3,169 Phantom Shares, and 446 shares held by his spouse.

(8) All shares are Restricted Shares.

(9) Includes 7,294 Restricted Shares and 409 shares held by the Rosella Kellogg Revocable Trust.

(10) Includes 7,067 Restricted Shares.

(11) Includes 7,464 Restricted Shares.

(12) Includes 6,495 Restricted Shares and 476 shares held by his spouse.

(13) Includes 9,264 Restricted Shares.

(14) Includes 36,768 Restricted Shares.

(15) Includes 26,379 Restricted Shares.

(16) Includes 19,271 Restricted Shares.

(17) Includes 40,835 Restricted Shares.

(18) Includes 267,156 Restricted Shares and 4,762 shares that the directors and executive officers as a group have the right to acquire by exercising Vested Options.

4 First Merchants Corporation 2025 Proxy Statement

#### III.

#### THE BOARD OF DIRECTORS
FMC’s Bylaws authorize the Board to fix the number of directors from time to time by resolution within a range of nine and fifteen directors. Effective February 6, 2024, the Board fixed this number at thirteen (13). Under the Bylaws, the Board is currently divided into three classes, with each class of directors serving staggered three-year terms or until their successors are elected and qualified. The current directors in each class are eligible for re-election to a new term by the shareholders at the Annual Meeting held in the year in which the term for their class expires. However, at the 2024 Annual Meeting, the shareholders approved a proposal to provide for a phased-in declassification of the Company's Board of Directors culminating in the annual election of all directors. As specified in the Company's Amended Bylaws, the phase-in of a declassified Board begins at the 2025 Annual Meeting.

Vacancies occurring between Annual Meetings caused by a director’s resignation, death or other incapacity, or by an increase in the number of directors, may be filled by a majority vote of the remaining members of the Board until the next Annual Meeting.

All of the directors serving on the Board at the conclusion of the 2024 Annual Meeting of Shareholders remain on the Board as of the date of this proxy statement.