HARDWICK MARK K 4

What Happened
Mark K. Hardwick, CEO of First Merchants Corp (FRME), received an award of 30.782 phantom shares on June 23, 2026. The grant is reported at a per-share value of $40.90, for a total reported value of $1,259. This was an award/derivative grant (not an open‑market purchase or sale) and reflects compensation rather than an immediate change in ownership of common stock.

Key Details

• Transaction date: 2026-06-23; Report filed 2026-06-23 (no late filing indicated).
• Instrument: Phantom stock (derivative) — 30.782 shares reported at $40.90 each; total value $1,259.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Each phantom share equals the economic equivalent of one FRME common share and will be settled in cash or in shares of FRME common stock, at the reporting person's election, upon separation from First Merchants.
• Transaction code: A (award/other acquisition); not a purchase (P) or sale (S).

Context
Phantom stock awards give the recipient the economic benefits of share ownership (price appreciation, dividends equivalents) but are settled later in cash or stock, so they do not necessarily change outstanding share count now. This small grant (~$1.3K) appears to be a routine compensation award rather than a market signal; investors should watch for future settlements or additional trades for clearer insider intent.