HARDWICK MARK K 4

What Happened
Mark K. Hardwick, CEO of First Merchants Corp (FRME), received a grant/award of 33.434 phantom shares on 2026-03-23. The reported per-share valuation was $36.54, for a total reported value of $1,222. This was an award (acquisition) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-23 (reported on Form 4 filed 2026-03-24).
• Type: Grant / award (derivative phantom stock) — code A (acquisition).
• Amount: 33.434 phantom shares; reported price/value $36.54 per share; total $1,222.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: Each phantom share equals the economic equivalent of one FRME common share and will be settled in cash or shares of FRME common stock, at the reporting person's election, upon separation from First Merchants.
• Filing timeliness: Filed the next day (appears timely based on dates shown).

Context
Phantom stock is a derivative award that tracks the value of common shares but is settled in cash or stock later; it represents compensation rather than an open-market investment. Small-value awards like this are common components of executive compensation and do not themselves indicate buying or selling pressure in the market.