Company: FRME
Filing Date: 2025-06-20
Form Type: 11-K
Source: 0000712534-25-000132
Chunk: 12

Company: FIRST MERCHANTS CORP
Filing Date: 2025-06-20
Form: 11-K
Chunk 12
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30, 2024, September 30, 2024 and December 31, 2024 was 2.10%, 2.20%, 2.20%, 2.30% and 2.30%, respectively.

Certain events limit the ability of the Plan to transact at contract value with the issuer. Such events include the following: (1) amendments to the Plan Documents (including complete or partial plan termination or merger with another plan), (2) changes to the Plan’s prohibition on competing investment options or deletion of equity wash provisions, (3) bankruptcy of the Corporation or other Corporation events (for example, divestitures or spin-offs of a subsidiary) that cause a significant withdrawal from the Plan or (4) the failure of the trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA. The Plan Administrator does not believe the occurrence of any such value event, which would limit the Plan’s ability to transact at contract value with participants, is probable.

The guaranteed investment contract does not permit the insurance company to terminate the agreement prior to the scheduled maturity date.

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#### First Merchants Corporation

#### Retirement Income and Savings Plan

### Notes to Financial Statements

#### December 31, 2024 and 2023

#### NOTE 5

#### PARTY-IN-INTEREST TRANSACTIONS
Party-in-interest transactions include those with fiduciaries or employees of the Plan, any person who provides services to the Plan, an employer whose employees are covered by the Plan, an employee organization whose members are covered by the Plan, a person who owns 50 percent or more of such an employer or employee association, or relatives of such persons.

The Plan received investment fee rebates of $2,645 and $3,642 during 2024 and 2023, respectively, from mutual fund providers. The Plan pays Lincoln for recordkeeping services. The Plan paid fees of $166,283 and $174,935 during 2024 and 2023, respectively. The Company provides certain administrative services at no cost to the Plan.

The Plan invests in First Merchants Corporation common stock. Activity at fair value was as follows:

|                                                   |     | First Merchants Corporation Common Stock |            |
|:--------------------------------------------------|:----|:-----------------------------------------|-----------:|
| Balance at January 1, 2023                        |     | $                                        |  9,049,057 |
| Total unrealized