Company: FRME
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000712534-25-000077
Chunk: 2

Company: FIRST MERCHANTS CORP
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 2
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                                                                                               |     | 42 |

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|       | •NON-QUALIFIED DEFERRED COMPENSATION TABLE                                       |     | 42 |
|       | •CHANGE OF CONTROL AGREEMENTS TABLE                                              |     | 43 |
|       | RATIO OF ANNUAL TOTAL COMPENSATION OF CHIEF EXECUTIVE OFFICER TO MEDIAN EMPLOYEE |     | 44 |
|       | PAY VERSUS PERFORMANCE                                                           |     | 45 |
|       | •PAY VERSUS PERFORMANCE TABLE                                                    |     | 45 |
|       | •DESCRIPTION OF RELATIONSHIPS AMONG PAY VERSUS PERFORMANCE MEASURES              |     | 47 |
|       | •TABULAR LIST OF MOST IMPORTANT PERFORMANCE MEASURES                             |     | 49 |
|       | VOTING ITEM 2: ADVISORY VOTE TO APPROVE COMPENSATION OF NAMED EXECUTIVE OFFICERS |     | 49 |
| VIII. | COMPENSATION OF DIRECTORS                                                        |     | 50 |
| IX.   | TRANSACTIONS WITH RELATED PERSONS                                                |     | 53 |
| X.    | DELINQUENT SECTION 16(a) REPORTS                                                 |     | 54 |
| XI.   | INDEPENDENT AUDITOR                                                              |     | 54 |
|       | •FEES FOR PROFESSIONAL SERVICES RENDERED BY FORVIS MAZARS, LLP                   |     | 54 |
|       | •THE AUDIT COMMITTEE’S PRE-APPROVAL POLICIES AND PROCEDURES                      |     | 54 |
|       | VOTING ITEM 3: RATIFICATION OF APPOINTMENT OF      INDEPENDENT AUDITOR FOR 2025  |     | 55 |
| XII.  | SHAREHOLDER PROPOSALS                                                            |     | 55 |
| XIII. | OTHER MATTERS                                                                    |     | 56 |

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April 1, 2025

### FIRST MERCHANTS CORPORATION

### PROXY STATEMENT FOR

### ANNUAL MEETING OF SHAREHOLDERS

#### TO BE HELD MAY 16, 2025
To the shareholders of First Merchants Corporation (“ FMC ”, "First Merchants" , or the “ Company ”):

We are providing you the notice of annual meeting of shareholders and this proxy statement in connection with FMC’s annual meeting of shareholders