On September 29, 2020, First Merchants Corporation announced several changes to its executive management group as part of an ongoing executive succession plan, including the upcoming retirement of the Company’s current President and Chief Executive Officer, Michael C. Rechin, effective January 1, 2021. Mr. Rechin will retire as President and Chief Executive Officer, but will retain his position on the Company’s Board of Directors. Mr. Rechin will also continue to serve in a management consulting role pursuant to a Consulting Agreement with the Company. Mr. Rechin’s retirement will be coupled with several changes to the Company’s executive management group. Specifically, at a meeting of the Company’s Board of Directors (the “Board”) held on September 25, 2020, the Board made the following appointments among its existing executive officers, each to become effective as of January 1, 2021: (i) Mark K. Hardwick will assume the position of Chief Executive Officer and will become the Company’s principal executive officer; (ii) Michael J. Stewart will assume the position of President; and (iii) Michele M. Kawiecki will assume the position of Executive Vice President and Chief Financial Officer and will be the Company’s principal financial and accounting officer. Each of these appointments will be until the next annual meeting of the Board of Directors or otherwise until their successors are duly appointed and qualified.