Nef James D. 4

What Happened
James D. Nef, Senior Vice President and Director of Accounting at First Savings Financial Group (FSFG), reported a disposition to the issuer of 4,225 shares on 2026-02-01. The Form 4 lists the transaction as a disposition (code D) with no sale price or cash value reported. Per the filing footnote, this disposition was part of the merger with First Merchants Corporation: each FSFG share was converted into the right to receive 0.85 shares of First Merchants common stock (with cash paid in lieu of any fractional shares).

Key Details

• Transaction date: 2026-02-01; Form 4 filed: 2026-02-09 (appears later than the typical 2-business-day filing requirement).
• Transaction type/code: Disposition to issuer (D).
• Shares disposed: 4,225 FSFG shares. Price and total value: N/A (no cash sale reported).
• Shares owned after transaction: not specified on this Form 4.
• Footnote: Under the September 24, 2025 merger agreement, each FSFG share converted into 0.85 First Merchants shares; cash in lieu for fractional shares.

Context
This was a corporate-action disposition tied to a merger conversion, not an open-market sale—meaning the insider’s FSFG shares were exchanged for acquirer consideration (First Merchants stock and possible cash for fractions), not sold for cash on the market. For retail investors, this type of filing documents the mechanics of the merger exchange rather than an insider's decision to cash out; it does not by itself indicate confidence or lack thereof in the business.