Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 11

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 11
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 agreement between First Savings and such holder and the holder’s rights under the award will terminate and be of no further force or effect.                                                                                                      |

The Merger Agreement also provides that, after all regulatory and shareholder approvals required for consummation of the transactions contemplated by the Merger Agreement have been obtained, but prior to the third trading day immediately preceding the Effective Time, First Savings will cause each option to acquire a share of First Savings common stock (a “First Savings Option”) granted to employees and directors under First Savings equity incentive plans (“First Savings Option Plans”) to fully vest (to the extent not vested). On the day immediately preceding the Effective Time, each outstanding First Savings Option will be cancelled and First Savings or its subsidiaries will pay to the holder thereof cash in the amount equal to the product of (i) the aggregate number of shares of First Savings common stock subject to the First Savings Option, multiplied by (ii) the excess, if any, of (A) the product of the Exchange Ratio multiplied by the First Merchants Average Price, over (B) the exercise price of First Savings common stock provided for in such First Savings Option (the “Cancellation Payment”). The Cancellation Payment will be paid on the day immediately preceding the Effective Time and will be made without interest and will be less applicable tax withholdings. First Savings will be responsible for any applicable withholding and tax reporting with respect to the Cancellation Payments. All out-of-the-moneyFirst Savings Options, if any, will be cancelled as of the day immediately preceding the Effective Time without any payment. The term “First Merchants Average Price” means the volume weighted average trading price of a share of First Merchants common stock as reported by Bloomberg, L.P. for the 10 days that First Merchants common stock trades on the Nasdaq Global Select Market preceding the fourth calendar day prior to the Effective Time. The First Merchants Average Price will be appropriately and proportionately adjusted to reflect any share adjustments resulting from any stock splits, stock dividends, recapitalization, or similar transactions.

| Q: | When is the Merger expected to be completed? |

| A: | We are working to complete the Merger as quickly as possible. We must first obtain the necessary regulatory                                                   
 approvals and the approval of First Savings shareholders at the special meeting. We currently expect to complete the Merger during the first quarter of 2026. |

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| Q: | What are the federal income tax consequences of the Merger to holders of First Savings common stock? |

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