During his tenure at First Merchants Corporation, Michael C. Rechin managed substantial holdings, particularly in restricted stock awards. For example, he was awarded 15,000 shares under a long-term equity incentive plan (LTEIP). The value of these shares at the time...

During his tenure at First Merchants Corporation, Michael C. Rechin managed substantial holdings, particularly in restricted stock awards. For example, he was awarded 15,000 shares under a long-term equity incentive plan (LTEIP). The value of these shares at the time of granting was $40.44 each, showing a potentially sizable increase depending on market performance. His wealth was heavily tied to these stock awards as they were set to vest over time, reflecting his alignment with shareholder interests. By 2020, as he transitioned to a consulting role post-retirement, he had seen fluctuations in his holdings, which were less extensive during the consulting period. This indicates a shift from being an active executive to a retired consultant, thus altering the nature of his financial stake in the company.