FIRST MERCHANTS CORP 8-K

What Happened First Merchants Corporation filed an 8-K (Item 8.01) on June 24, 2026, announcing that its Board approved a new stock repurchase program. The program authorizes repurchases of up to 3,125,000 shares of common stock, subject to an aggregate spending cap of $100,000,000, and replaces a similar program approved in March 2025. Repurchases may be made in the open market, in privately negotiated transactions, or pursuant to Rule 10b5-1 plans and will be conducted in accordance with Rule 10b-18 under the Securities Exchange Act.

Key Details

• Board approval date: June 24, 2026.
• Maximum shares authorized: 3,125,000 common shares (approximately 5% of outstanding shares).
• Dollar cap: Total repurchases not to exceed $100,000,000.
• Execution: Purchases may occur on the open market, via private transactions, or under Rule 10b5-1 plans; the program replaces the March 2025 program and may be suspended or discontinued at any time.

Why It Matters A formal repurchase program gives the company flexibility to return capital and manage its share count. Repurchased shares reduce shares outstanding, which can affect per-share metrics such as earnings per share if net income remains unchanged. The firm is not obligated to buy shares and will decide timing, amount, and price based on market conditions, legal limits and other factors, so actual repurchases and their timing remain at management’s discretion.