Company: FRME
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000712534-25-000077
Chunk: 50

Company: FIRST MERCHANTS CORP
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 50
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 However, the NEOs received these payments in March of the following year. None of the NEOs received a bonus for 2022, 2023, or 2024 except for these payments under the SMICP.

(3) The amounts shown in the Change in Pension Value and Non-qualified Deferred Compensation Earnings column for Mr. Hardwick are the changes in the actuarial present value of his frozen benefits under the Pension

38 First Merchants Corporation 2025 Proxy Statement

Plan for the years indicated. The present value of Mr. Hardwick's benefits decreased by $43,030 in 2022 and by $1,359 in 2024. SEC rules require that negative earnings be shown as $0 in the Summary Compensation Table. Mr. Stewart, Mr. Martin, Mr. Peterson, and Ms. Kawiecki have not participated in any Company-sponsored defined benefit plan or other actuarial pension plan. No NEO received above-market or preferential earnings on deferred compensation for 2022, 2023, or 2024.

(4) The amounts shown in the All Other Compensation column include the following for the years indicated:

Mr. Hardwick

• §401(k) Plan FMC matching contributions of $13,725 (2022), $14,850 (2023), and $15,525 (2024)

• Additional §401(k) Plan FMC contributions of $5,800 (2022), $6,100 (2023), and $6,600 (2024)

• Reinvested dividends on restricted stock awards valued at $39,373 (2022), $52,643 (2023), and $71,034 (2024)

• Perquisites of $15,691 (car allowance and country club dues)

Mr. Stewart

• §401(k) Plan FMC matching contributions of $13,725 (2022), $14,850 (2023), and $15,525 (2024)

• Additional §401(k) Plan FMC contributions of $5,800 (2022), $6,100 (2023), and $6,600 (2024)

• Reinvested dividends on restricted stock awards valued at $34,603 (2022), $40,170 (2023), and $50,460 (2024)

• Perquisites of $17,299 (car allowance and country club dues)

Ms. Kawiecki

• §401(k) Plan FMC matching contributions of $