FLUHLER STEPHAN 4

What Happened

• Stephan Fluhler, Chief Information Officer and Senior Vice President of First Merchants Corp (FRME), received a grant of 217.383 shares of phantom stock on 2026-03-23. The award is valued at $36.54 per share, totaling approximately $7,943. This transaction is an award/grant (code A) of a derivative interest, not an open-market purchase.

Key Details

• Transaction date and price: 2026-03-23 at $36.54 per share.
• Shares granted: 217.383 phantom shares; total value ≈ $7,943.
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: Each phantom share equals the economic equivalent of one share of FRME common stock and will be settled in cash or in shares of common stock, at the reporting person's election, upon separation from First Merchants.
• Filing timeliness: Form filed 2026-03-24 for a 2026-03-23 transaction (filed promptly).

Context

• Phantom stock awards are a form of compensation that track stock value but are settled in cash or stock later; they are not the same as an immediate purchase of shares and do not necessarily signal immediate insider buying or selling. This is a routine compensation-related grant to an executive rather than an open-market transaction.