secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2025-02-06T23:59:59+00:00
Accession:  0000712534-25-000045
Event type: other
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000071253425000045/0000712534-25-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000071253425000045/frme-20250203.htm
  HTML page:      https://secwatch.observer/filing/0000712534-25-000045

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer