---
schema_version: "secwatch.filing_event.v1"
accession: "0000712534-25-000045"
form_type: "8-K"
ticker: "FRME"
cik: "0000712534"
company_name: "FIRST MERCHANTS CORP"
filed_at: "2025-02-06T23:59:59+00:00"
generated_at: "2026-05-27T02:02:37.198164+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# First Merchants adopts 2025 SMICP; CEO target 80% base, max 160%

## Summary
- CEO Hardwick target 80% of base salary at SMICP; max 160% if goals met/exceeded.
- President Stewart and EVP/CFO Kawiecki each target 60% of base; max 120%.
- EVP/CC Martin and EVP/CCO Peterson each target 50% of base; max 100%.
- Performance for majority based on diluted GAAP operating EPS; Peterson 70% EPS + 30% Commercial line.
- Payouts require employment at payment unless death/disability/retirement; subject to clawback.

## SEC filing metadata
- accession: 0000712534-25-000045
- form_type: 8-K
- ticker: FRME
- cik: 0000712534
- company_name: FIRST MERCHANTS CORP
- filed_at: 2025-02-06T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/712534/000071253425000045/0000712534-25-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/712534/000071253425000045/frme-20250203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000712534-25-000045
- JSON: https://secwatch.observer/filing/0000712534-25-000045.json
- Plain text: https://secwatch.observer/filing/0000712534-25-000045.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.