Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 26

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 26
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 |       |     | Low |       |     | Close |       |
|:-------------------|:----|:--------------------------------------------------------|------:|:----|:----|------:|:----|:------|------:|:----|:-----|------:|:----|:----|------:|:----|:------|------:|
| September 24, 2025 |     | $                                                       | 40.47 |     | $   | 39.19 |     | $     | 39.53 |     | $    | 27.68 |     | $   | 27.24 |     | $     | 27.68 |
| October 15, 2025   |     | $                                                       | 38.12 |     | $   | 36.73 |     | $     | 37.00 |     | $    | 31.40 |     | $   | 30.77 |     | $     | 30.83 |

13

The market value of the aggregate consideration that holders of First Savings common stock will receive in the Merger is approximately $235.2 million (or $33.60 per share of First Savings common stock) based on an assumption of 7,000,558 shares of First Savings common stock outstanding at the time of closing (which was the number of shares of First Savings common stock outstanding on September 24, 2025, plus 24,000 shares of restricted stock that First Savings intends to issue in November 2025), and First Merchants’ closing stock price of $39.53 on September 24, 2025 (the business day before the Merger was publicly announced). The market value of the aggregate consideration that First Savings shareholders will receive in the Merger is approximately $220.5 million (or $31.45 per share of First Savings common stock) based on an assumption of 7,010,008 shares of First Savings common stock outstanding at the time of closing (which was the number of shares of First Savings common stock outstanding on October 15, 2025, plus 24,000 shares of restricted stock that First Savings intends to issue in November 2025), and First Merchants’ closing stock price of $37.00 on October 15, 2025 (the last practicable trading day prior to the date on which this proxy statement and prospectus was finalized). Also set forth below for the closing price of