Mark K. Hardwick has been the CEO of First Merchants Corporation since early 2021. He has built a strong career in finance, starting as a Corporate Controller at First Merchants in 1997 and becoming the Chief Financial Officer in 2002....

Mark K. Hardwick has been the CEO of First Merchants Corporation since early 2021. He has built a strong career in finance, starting as a Corporate Controller at First Merchants in 1997 and becoming the Chief Financial Officer in 2002. His hands-on experience led to further promotions, including Chief Operating Officer, before taking the top position. Mark holds an MBA from the University of Michigan, a solid credential that complements his experience. He was named 'CFO of the Year' in 2012 by the Indianapolis Business Journal, which shows he’s recognized in his field. Mark is also actively involved in his community, serving as a trustee at Ball State University. In 2023, Mark earned a total compensation of $1,877,750, comprising salary, bonuses, and stock awards, which reflects his performance-driven approach. His journey from an accountant to the CEO showcases his determination and commitment to growth, both personally and for First Merchants Corporation.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other First Merchants Corporation CEOs

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Mark K. Hardwick

CEO of First Merchants Corporation

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

CEO of First Merchants Corporation for

4 years 3 months (Jan 2021 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Mark K. Hardwick

Holdings

See how much did Mark K. Hardwick make over time.

As of 2023, Mark K. Hardwick holds about 95,061 shares of First Merchants Corporation stock. His ownership represents a significant part of his wealth, emphasizing his commitment to the company. Throughout his tenure, his holdings have seen fluctuations, reflecting market...

As of 2023, Mark K. Hardwick holds about 95,061 shares of First Merchants Corporation stock. His ownership represents a significant part of his wealth, emphasizing his commitment to the company. Throughout his tenure, his holdings have seen fluctuations, reflecting market conditions. At one point, Mark's stake was at its highest when he was promoted to CEO, highlighting the trust placed in him by the company and its investors. Now, with the current stock price, his holdings are valued in the region of $2 million. This connection between his financial stake and leadership role encourages alignment with shareholders' interests, showing that he is invested in the company's ongoing success.

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Total Stock Sold

$1.59M

FRME

$1.59M

43,887.113 FRME shares

What if they kept their stock?

If Mark K. Hardwick didn't sell their stock, today they would have:
Extra FRME43,887.113 shares worth $1.17M.
This is -26.59% and $422.92K less than what they got when they sold the stock.

Charitable Transactions

FRME

27,763 shares

FRME

Recent Charitable Transactions

FRME

1,171 shares

FRME

Nov 19, 2024

Charity

FRME

4,684 shares

FRME

Nov 13, 2024

Charity

FRME

7,500 shares

FRME

Dec 19, 2023

Charity

FRME

5,500 shares

FRME

Nov 29, 2022

Charity

FRME

2,500 shares

FRME

Feb 24, 2021

Charity

FRME

1,500 shares

FRME

Dec 18, 2019

Charity

Insider Trading

See recent insider trades of Mark K. Hardwick.

FRME

1,171 shares

FRME

Nov 19, 2024

Charity

FRME

4,684 shares

FRME

Nov 13, 2024

Charity

FRME

$475.92K

FRME at $40.22/share

Aug 8, 2024

Sale

FRME

$758.94K

FRME at $36.14/share

Aug 8, 2024

Received

FRME

7,500 shares

FRME

Dec 19, 2023

Charity

FRME

$611.04K

FRME at $32.16/share

Jul 20, 2023

Received

FRME

5,500 shares

FRME

Nov 29, 2022

Charity

FRME

$614.25K

FRME at $40.95/share

Aug 3, 2022

Received

FRME

$362.70K

FRME at $42.67/share

Aug 10, 2021

Received

FRME

$366.97K

FRME at $45.36/share

May 26, 2021

Sale

Compensation History

See how much did Mark K. Hardwick make over time.

In 2023, Mark K. Hardwick received a total compensation package of approximately $1.88 million. This figure includes a base salary of $728,000 and a performance-based bonus that totaled $369,807, which is tied to the company's performance metrics. Additionally, he received $611,040 in vested stock awards. The company's compensation structure aims to motivate and retain high-performing executives, aligning their pay with the company's success. Over the years, Mark's compensation has steadily increased, demonstrating his growing influence and responsibility within the company. This growth is a result of not just his leadership since becoming CEO but also his prior roles, which laid the groundwork for his current position.

Year

2023

Total Compensation

$1.79M

Salary

$728.00K

Board Justification

The compensation philosophy aims to align executive compensation with company performance, ensuring that it is competitive with peer institutions and supports retention of high-performing leaders.

Bonus

$369.81K

Board Justification

The bonus is based on the Senior Management Incentive Compensation Program (SMICP) for performance in 2023, which was determined by the company's operating earnings per share.

Other

$78.87K

Board Justification

Includes contributions to the 401(k) plan and perquisites such as car allowance and country club dues.

Restricted Stock

$611.04K(19K RSU)

Board Justification

The stock awarded under the Long-term Equity Incentive Plan (LTEIP) that vested in 2023, with a total of 19,000 shares granted on August 2, 2023, vesting on August 2, 2026.

Performance Metrics

The performance metrics for determining compensation include operating earnings per share and consolidated efficiency ratio.

Other First Merchants Corporation CEOs

Here are other CEOs of First Merchants Corporation

Michael C. Rechin

Ex-CEO of First Merchants Corporation

June 2006 - January 2021