First Merchants Corp (FRMEP) shareholders
FRMEPNasdaqNational Commercial BanksFiscal year ends December 31Also trades as FRME
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 30, 2026Score 11/303% below fair value
$25.17+0.00 (0.00%)
Close on Oct 30, 2026Market cap $1.58BP/E 7.8Yield 5.68%
Ownership
Who owns First Merchants's shares
Held by institutions
–
Shares held, 13F filers
Institutional holders
–
Net institutional buying
–
Insider trades, 12 months
0 buys · 9 sales
Net sold $1.94M
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 4,407,367 | 7.60% | 13G (passive) amendment | Sep 30, 2025 |
| Vanguard Portfolio Management | 3,408,096 | 5.37% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 3,199,084 | 5.04% | 13G (passive) | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 3,074,411 | 5.10% | 13G (passive) | Dec 29, 2023 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Mark K. Hardwick | Chief Executive Officer, Director | 150,525 | Sep 22, 2026 |
| Stephan Fluhler | Chief Information Officer | 25,466 | Sep 22, 2026 |
| Eva D. Scurlock | Chief Risk Officer | 31,523 | Aug 12, 2026 |
| Michele Kawiecki | Chief Financial Officer | 74,412 | Aug 4, 2026 |
| John Martin | Chief Credit Officer | 71,549 | Aug 4, 2026 |
| Joseph C. Peterson | Chief Commercial Officer | 45,482 | Aug 4, 2026 |
| Steven C. Harris | Chief Human Resources Officer | 22,797 | Aug 4, 2026 |
| Michael J. Stewart | President | 123,069 | Aug 4, 2026 |
| Chad Kimball | Chief Risk Officer | 18,090 | Aug 5, 2025 |
| Michael R. Becher | Director | 29,699 | Jul 2, 2026 |
| Michael C. Rechin | Director | 95,544 | Jul 2, 2026 |
| Larry W. Myers | Director | 314,534 | Jul 2, 2026 |
| Paul G. Fultz | Director | 518 | Jul 2, 2026 |
| Howard Halderman | Director | 29,788 | Jul 2, 2026 |
| Jean L. Wojtowicz | Director | 66,731 | Jul 2, 2026 |
| Kevin D. Johnson | Director | 9,498 | Jul 2, 2026 |
| Michael J. Fisher | Director | 19,029 | Jul 2, 2026 |
| Mung Chiang | Director | 8,864 | Jul 2, 2026 |
| Jason R. Sondhi | Director | 11,098 | Jul 2, 2026 |
| Clark C. Kellogg | Director | 17,382 | Jul 2, 2026 |
| Susan W. Brooks | Director | 12,572 | Jul 2, 2026 |
| Gary Lehman | Director | 53,775 | Apr 2, 2026 |
| Patrick J. Fehring | Director | 120,485 | Oct 2, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Stephan Fluhler Chief Information Officer | Aug 19, 2026 | Sale | −4,080 | $43.20 | $176.26K | 21,694 |
| Eva D. Scurlock Chief Risk Officer | Aug 3, 2026 | Award | +4,000 | $43.63 | $174.52K | 31,523 |
| Michele Kawiecki Chief Financial Officer | Aug 3, 2026 | Award | +13,000 | $43.63 | $567.19K | 72,404 |
| Stephan Fluhler Chief Information Officer | Aug 3, 2026 | Award | +5,000 | $43.63 | $218.15K | 25,774 |
| Michael J. Stewart President | Aug 3, 2026 | Award | +16,000 | $43.63 | $698.08K | 115,834 |
| Steven C. Harris Chief Human Resources Officer | Aug 3, 2026 | Award | +3,000 | $43.63 | $130.89K | 22,649 |
| Eva D. Scurlock Chief Risk Officer | Aug 3, 2026 | Award | +700 | $43.63 | $30.54K | 28,223 |
| Mark K. Hardwick Chief Executive Officer, Director | Aug 3, 2026 | Award | +21,000 | $43.63 | $916.23K | 132,620 |
| Joseph C. Peterson Chief Commercial Officer | Aug 3, 2026 | Award | +8,000 | $43.63 | $349.04K | 45,482 |
| John Martin Chief Credit Officer | Aug 3, 2026 | Award | +8,000 | $43.63 | $349.04K | 71,549 |
| Eva D. Scurlock Chief Risk Officer | Aug 2, 2026 | Tax withholding | −224 | $43.14 | $9.66K | 27,523 |
| Michele Kawiecki Chief Financial Officer | Aug 2, 2026 | Tax withholding | −2,910 | $43.14 | $125.54K | 59,404 |
| Stephan Fluhler Chief Information Officer | Aug 2, 2026 | Tax withholding | −1,532 | $43.14 | $66.09K | 20,774 |
| Michael J. Stewart President | Aug 2, 2026 | Tax withholding | −6,059 | $43.14 | $261.39K | 99,834 |
| Steven C. Harris Chief Human Resources Officer | Aug 2, 2026 | Tax withholding | −612 | $43.14 | $26.40K | 19,649 |
| Eva D. Scurlock Chief Risk Officer | Aug 2, 2026 | Tax withholding | −224 | $43.14 | $9.66K | 27,523 |
| Mark K. Hardwick Chief Executive Officer, Director | Aug 2, 2026 | Tax withholding | −5,821 | $43.14 | $251.12K | 111,620 |
| Joseph C. Peterson Chief Commercial Officer | Aug 2, 2026 | Tax withholding | −919 | $43.14 | $39.65K | 37,482 |
| John Martin Chief Credit Officer | Aug 2, 2026 | Tax withholding | −1,761 | $43.14 | $75.97K | 63,549 |
| Larry W. Myers Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 90,269 |
| Michael C. Rechin Director | Jun 30, 2026 | Award | +554 | $43.69 | $24.20K | 90,424 |
| Michael R. Becher Director | Jun 30, 2026 | Award | +554 | $43.69 | $24.20K | 29,699 |
| Susan W. Brooks Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 12,572 |
| Clark C. Kellogg Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 15,858 |
| Jason R. Sondhi Director | Jun 30, 2026 | Award | +536 | $43.69 | $23.42K | 10,604 |
| Mung Chiang Director | Jun 30, 2026 | Award | +500 | $43.69 | $21.85K | 8,864 |
| Michael J. Fisher Director | Jun 30, 2026 | Award | +500 | $43.69 | $21.85K | 19,029 |
| Paul G. Fultz Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 518 |
| Kevin D. Johnson Director | Jun 30, 2026 | Award | +500 | $43.69 | $21.85K | 9,498 |
| Jean L. Wojtowicz Director | Jun 30, 2026 | Award | +715 | $43.69 | $31.24K | 66,731 |
| Howard Halderman Director | Jun 30, 2026 | Award | +536 | $43.69 | $23.42K | 29,773 |
| Larry W. Myers Director | Jun 12, 2026 | Sale | −10,000 | $42.00 | $420.00K | 89,751 |
| Larry W. Myers Director | Jun 11, 2026 | Sale | −10,000 | $41.50 | $415.00K | 99,751 |
| Larry W. Myers First Vice President, Director | May 5, 2026 | Sale | −0.41 | $40.54 | $17 | 109,751 |
| Mung Chiang Director | Mar 31, 2026 | Award | +584 | $38.73 | $22.62K | 8,358 |
| Clark C. Kellogg Director | Mar 31, 2026 | Award | +584 | $38.73 | $22.62K | 15,271 |
| Jason R. Sondhi Director | Mar 31, 2026 | Award | +605 | $38.73 | $23.43K | 9,550 |
| Kevin D. Johnson Director | Mar 31, 2026 | Award | +564 | $38.73 | $21.84K | 8,983 |
| Michael J. Fisher Director | Mar 31, 2026 | Award | +564 | $38.73 | $21.84K | 18,457 |
| Howard Halderman Director | Mar 31, 2026 | Award | +605 | $38.73 | $23.43K | 29,047 |
| Michael C. Rechin Director | Mar 31, 2026 | Award | +625 | $38.73 | $24.21K | 89,870 |
| Michael R. Becher Director | Mar 31, 2026 | Award | +625 | $38.73 | $24.21K | 29,145 |
| Susan W. Brooks Director | Mar 31, 2026 | Award | +584 | $38.73 | $22.62K | 12,015 |
| Gary Lehman Director | Mar 31, 2026 | Award | +564 | $38.73 | $21.84K | 53,775 |
| Jean L. Wojtowicz Director | Mar 31, 2026 | Award | +806 | $38.73 | $31.22K | 65,519 |
| Larry W. Myers First Vice President, Director | Feb 26, 2026 | Sale | −5,000 | $41.50 | $207.50K | 109,491 |
| Larry W. Myers First Vice President, Director | Feb 26, 2026 | Sale | −5,000 | $41.50 | $207.50K | 109,491 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Option exercise | +5,986 | $21.79 | $130.43K | 31,492 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Option exercise | +681 | $21.79 | $14.84K | 25,506 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Tax withholding | −3,810 | $41.64 | $158.65K | 27,682 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Option exercise | +4,762 | $26.04 | $124.00K | 24,825 |
| Stephan Fluhler Chief Information Officer | Feb 11, 2026 | Sale | −4,161 | $41.96 | $174.60K | 22,000 |
| Steven C. Harris Chief Human Resources Officer | Feb 8, 2026 | Tax withholding | −970 | $42.34 | $41.07K | 19,884 |
| Michele Kawiecki Chief Financial Officer | Feb 8, 2026 | Tax withholding | −1,782 | $42.34 | $75.45K | 61,221 |
| John Martin Chief Credit Officer | Feb 8, 2026 | Tax withholding | −5,398 | $42.34 | $228.55K | 64,878 |
| Stephan Fluhler Chief Information Officer | Feb 8, 2026 | Tax withholding | −1,795 | $42.34 | $76.00K | 26,161 |
| Joseph C. Peterson Chief Commercial Officer | Feb 8, 2026 | Tax withholding | −1,789 | $42.34 | $75.75K | 38,025 |
| Eva D. Scurlock Chief Risk Officer | Feb 6, 2026 | Sale | −3,227 | $42.29 | $136.47K | 20,063 |
| Susan W. Brooks Director | Dec 31, 2025 | Award | +604 | $37.48 | $22.64K | 11,395 |
| Jean L. Wojtowicz Director | Dec 31, 2025 | Award | +833 | $37.48 | $31.22K | 64,183 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 15, 2026 (FINRA, reported twice a month)
Short % of shares outstanding
–
0M shares short
Days to cover
1.6
At 0M shares a day
Change since last report
-18.0%
From 0M shares
Short volume, 20 days
47.9%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of First Merchants's stock actually held short. Settlement fails (shares not delivered on time) peaked at 98 shares on Aug 20, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Stephan Fluhler Chief Information Officer | Aug 19, 2026 | 4,080 | $176.26K | Aug 19, 2026 | Vested Restricted Stock Awards |
| Larry W. Myers Director | Jun 11, 2026 | 20,000 | $830.00K | Jun 11, 2026 | Vested Restricted Shares |
| Larry W. Myers Director, Officer - First Vice President | Feb 26, 2026 | 25,000 | $1.03M | Feb 26, 2026 | Vested Restricted Shares |
| Stephan Fluhler Chief Information Officer | Feb 10, 2026 | 4,161 | $174.35K | Feb 10, 2026 | Vested Restricted Stock Awards |
| Eva D. Scurlock Chief Risk Officer | Feb 4, 2026 | 3,227 | $131.69K | Feb 4, 2026 | Exercised Options |
| Stephan Fluhler Chief Information Officer | Nov 3, 2025 | 5,689 | $203.38K | Nov 4, 2025 | Vested Restricted Stock Awards |
| Michael J. Stewart President | Dec 13, 2024 | 7,248 | $313.04K | Dec 13, 2024 | RSA Dividends |
| Michael J. Stewart President | Dec 4, 2024 | 7,248 | $315.58K | Dec 5, 2024 | RSA Dividends |
| Patrick J. Fehring Director | Nov 7, 2024 | 26,437 | $1.14M | Nov 7, 2024 | Stock Option |
| Mark K. Hardwick Officer | Aug 9, 2024 | 11,833 | $420.78K | Aug 9, 2024 | 401k Plan |
| Patrick J. Fehring Director | May 30, 2024 | 23,936 | $778.06K | May 30, 2024 | Stock Option Exercise |
| StephanH. Fluhler Chief Information Officer | Feb 26, 2024 | 3,192 | $108.94K | Feb 26, 2024 | Vest Restricted Stock Awards |
| Patrick J. Fehring Director | Feb 12, 2024 | 9,903 | $346.61K | Feb 13, 2024 | Vested Restricted Stock Awards plus Dividends Paid and Reinvested Quarterly |
| Michael C. Rechin Director | Dec 14, 2023 | 10,000 | $375.40K | Dec 14, 2023 | Vested Restricted Stock Awards plus Dividends Paid and Reinvested Quarterly |