First Merchants adopts 2026 incentive plan for NEOs with EPS-based metrics

FIRST MERCHANTS CORP

CEO Hardwick: threshold 40%, target 80%, maximum 160% of base salary based on diluted GAAP EPS.
President Stewart and CFO Kawiecki: target 60%, maximum 120% of base salary.
Chief Credit Officer Martin and Chief Commercial Officer Peterson: target 50%, maximum 100%.
Peterson's payout weighted 70% on corp EPS and 30% on Commercial line revenue and net contribution.
All payments subject to clawback if based on materially inaccurate financial statements.

item 5.02item 9.01

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