Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 24

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 24
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 the First Savings Board of Directors         
 immediately prior to the Effective Time to fill the resulting vacancy.                                                                                                                                                                                    |

Termination of the Merger (page 67) Both First Merchants and First Savings can mutually agree to terminate the Merger Agreement before we complete the Merger. In addition, either First Savings or First Merchants acting alone can terminate the Merger Agreement under the circumstances described on page 67. First Savings has agreed to pay First Merchants a termination fee of $10,000,000 if:

| • |     | First Savings’ Board of Directors terminates the Merger Agreement in the exercise of its fiduciary duties 
 after receipt of an unsolicited superior acquisition proposal from a third party;                         |

| • |     | First Merchants terminates the Merger Agreement because First Savings’ Board of Directors withdraws or                                                              
 modifies its recommendation to First Savings’ shareholders to vote for the Merger following receipt of a written proposal for an acquisition from a third party; or |

| • |     | First Merchants terminates the Merger Agreement because First Savings fails to give First Merchants written                                                                                                                                         
 notice that it intends to furnish information to or enter into discussions or negotiations with a third party relating to a proposed acquisition of First Savings, or if First Savings, within 60 days after giving such notice, does not terminate 
 such discussions or negotiations.                                                                                                                                                                                                                   |

12

Either party may terminate the Merger Agreement if the Merger has not been completed by June 30, 2026, provided the terminating party is not then in breach of any representation warranty or covenant that, if uncured, would result in the failure of certain Merger closing conditions to be satisfied and, provided, further, that if the sole impediment to closing by June 30, 2026 is the lack of any necessary regulatory approval, then such termination date will be extended to September 30, 2026. Material U.S. Federal Income Tax Consequences (page 73) It is a condition to the closing of the Merger that Dentons Bingham Greenebaum LLP and Luse Gorman, PC deliver opinions, effective as of the date of the Merger, to First Merchants and First Savings, respectively, substantially to the effect that, for United States federal income tax purposes, the Merger will be treated as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code. Such opinions will comply with the regulations and guidance of the SEC with respect to the persons entitled to