FIRST MERCHANTS CORP

Ticker: FRME CUSIP: 320817109 Class: COM

PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO's Holding History (CIK: 0000315297)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 546,322 Value ($000) $20 Avg Close $36.79 Range $34.33 - $39.38

Q3 2025

Shares 546,322 Value ($000) $21 Avg Close $39.26 Range $36.09 - $41.68

Q2 2025

Shares 546,322 Value ($000) $21 Avg Close $36.08 Range $32.21 - $39.15

Q1 2025

Shares 546,322 Value ($000) $22 Avg Close $40.25 Range $35.90 - $43.98

Q4 2024

Shares 546,322 Value ($000) $22 Avg Close $38.77 Range $33.60 - $44.12

Q3 2024

Shares 693,922 Value ($000) $26 Avg Close $35.16 Range $30.58 - $40.22

Q2 2024

Shares 695,766 Value ($000) $23 Avg Close $31.40 Range $28.94 - $33.99

Q1 2024

Shares 696,924 Value ($000) $24 Avg Close $31.96 Range $30.07 - $35.11

Q4 2023

Shares 700,711 Value ($000) $26 Avg Close $28.54 Range $23.58 - $35.39

Q3 2023

Shares 703,065 Value ($000) $20 Avg Close $27.26 Range $24.70 - $29.80

Q2 2023

Shares 699,135 Value ($000) $20 Avg Close $25.52 Range $21.95 - $29.76

Q1 2023

Shares 582,468 Value ($000) $19 Avg Close $35.28 Range $28.79 - $39.06

Q4 2022

Shares 587,986 Value ($000) $24 Avg Close $37.35 Range $34.12 - $39.72

Q3 2022

Shares 584,077 Value ($000) $22,592 Avg Close $34.80 Range $29.80 - $38.54

Q2 2022

Shares 584,077 Value ($000) $20,805 Avg Close $34.25 Range $30.68 - $38.66

Q1 2022

Shares 478,377 Value ($000) $19,900 Avg Close $37.52 Range $35.45 - $39.76

Q4 2021

Shares 426,377 Value ($000) $17,861 Avg Close $35.95 Range $33.30 - $37.79

Q3 2021

Shares 426,377 Value ($000) $17,840 Avg Close $34.62 Range $32.24 - $36.96

Q2 2021

Shares 441,003 Value ($000) $18,377 Avg Close $38.60 Range $35.07 - $41.15

Q1 2021

Shares 441,003 Value ($000) $20,507 Avg Close $36.25 Range $28.53 - $42.77

Q4 2020

Shares 441,496 Value ($000) $16,516 Avg Close $25.94 Range $19.07 - $31.78

Q3 2020

Shares 441,392 Value ($000) $10,223 Avg Close $20.66 Range $17.92 - $23.56

Q2 2020

Shares 460,854 Value ($000) $12,706 Avg Close $21.90 Range $17.31 - $26.55

Q1 2020

Shares 460,854 Value ($000) $12,208 Avg Close $29.65 Range $18.68 - $34.23

Q4 2019

Shares 462,755 Value ($000) $19,246 Avg Close $32.25 Range $29.02 - $34.47

Q3 2019

Shares 462,755 Value ($000) $17,416 Avg Close $29.96 Range $27.57 - $32.15

Q2 2019

Shares 462,755 Value ($000) $17,538 Avg Close $29.19 Range $26.41 - $31.49

Q1 2019

Shares 413,180 Value ($000) $15,226 Avg Close $30.32 Range $26.50 - $32.91

Q4 2018

Shares 413,180 Value ($000) $14,160 Avg Close $31.95 Range $25.67 - $36.14

Q3 2018

Shares 413,180 Value ($000) $18,589 Avg Close $37.27 Range $35.16 - $39.45

Q2 2018

Shares 393,180 Value ($000) $18,244 Avg Close $34.96 Range $31.66 - $38.47

Q1 2018

Shares 393,180 Value ($000) $16,396 Avg Close $33.20 Range $31.09 - $34.82

Q4 2017

Shares 384,580 Value ($000) $16,175 Avg Close $33.01 Range $29.02 - $35.20

Q3 2017

Shares 384,580 Value ($000) $16,510 Avg Close $30.64 Range $28.63 - $33.44

Q2 2017

Shares 364,872 Value ($000) $14,646 Avg Close $30.90 Range $28.32 - $33.41

Q1 2017

Shares 277,572 Value ($000) $10,914 Avg Close $29.75 Range $26.87 - $32.13

Q4 2016

Shares 280,000 Value ($000) $10,542 Avg Close $24.15 Range $19.60 - $28.97

Q3 2016

Shares 280,000 Value ($000) $7,490 Avg Close $19.98 Range $18.03 - $20.70

Q2 2016

Shares 280,000 Value ($000) $6,980 Avg Close $18.70 Range $16.99 - $20.04

Q1 2016

Shares 280,000 Value ($000) $6,600 Avg Close $17.09 Range $15.76 - $18.88

Q4 2015

Shares 280,000 Value ($000) $7,118 Avg Close $19.62 Range $18.41 - $20.54

Q3 2015

Shares 216,221 Value ($000) $5,669 Avg Close $19.18 Range $18.23 - $19.83

Q2 2015

Shares 118,768 Value ($000) $2,934 Avg Close $17.41 Range $16.29 - $18.80

Q1 2015

Shares 81,417 Value ($000) $1,917 Avg Close $16.75 Range $15.70 - $17.66

Q4 2014

Shares 18,600 Value ($000) $423 Avg Close $15.93 Range $14.60 - $17.19

Q3 2014

Shares 18,600 Value ($000) $376 Avg Close $14.88 Range $14.19 - $16.12

Q2 2014

Shares 18,600 Value ($000) $393 Avg Close $15.12 Range $14.08 - $16.56

Q1 2014

Shares 18,600 Value ($000) $403 Avg Close $15.38 Range $14.30 - $16.42

Q4 2013

Shares 18,600 Value ($000) $423 Avg Close $14.49 Range $12.54 - $16.92

Q3 2013

Shares 18,600 Value ($000) $322 Avg Close $12.95 Range $12.05 - $13.80

Q2 2013

Shares 18,600 Value ($000) $319 Avg Close $11.60 Range $10.12 - $12.60

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	546,322	$20	$36.79	$34.33 - $39.38
Q3 2025	546,322	$21	$39.26	$36.09 - $41.68
Q2 2025	546,322	$21	$36.08	$32.21 - $39.15
Q1 2025	546,322	$22	$40.25	$35.90 - $43.98
Q4 2024	546,322	$22	$38.77	$33.60 - $44.12
Q3 2024	693,922	$26	$35.16	$30.58 - $40.22
Q2 2024	695,766	$23	$31.40	$28.94 - $33.99
Q1 2024	696,924	$24	$31.96	$30.07 - $35.11
Q4 2023	700,711	$26	$28.54	$23.58 - $35.39
Q3 2023	703,065	$20	$27.26	$24.70 - $29.80
Q2 2023	699,135	$20	$25.52	$21.95 - $29.76
Q1 2023	582,468	$19	$35.28	$28.79 - $39.06
Q4 2022	587,986	$24	$37.35	$34.12 - $39.72
Q3 2022	584,077	$22,592	$34.80	$29.80 - $38.54
Q2 2022	584,077	$20,805	$34.25	$30.68 - $38.66
Q1 2022	478,377	$19,900	$37.52	$35.45 - $39.76
Q4 2021	426,377	$17,861	$35.95	$33.30 - $37.79
Q3 2021	426,377	$17,840	$34.62	$32.24 - $36.96
Q2 2021	441,003	$18,377	$38.60	$35.07 - $41.15
Q1 2021	441,003	$20,507	$36.25	$28.53 - $42.77
Q4 2020	441,496	$16,516	$25.94	$19.07 - $31.78
Q3 2020	441,392	$10,223	$20.66	$17.92 - $23.56
Q2 2020	460,854	$12,706	$21.90	$17.31 - $26.55
Q1 2020	460,854	$12,208	$29.65	$18.68 - $34.23
Q4 2019	462,755	$19,246	$32.25	$29.02 - $34.47
Q3 2019	462,755	$17,416	$29.96	$27.57 - $32.15
Q2 2019	462,755	$17,538	$29.19	$26.41 - $31.49
Q1 2019	413,180	$15,226	$30.32	$26.50 - $32.91
Q4 2018	413,180	$14,160	$31.95	$25.67 - $36.14
Q3 2018	413,180	$18,589	$37.27	$35.16 - $39.45
Q2 2018	393,180	$18,244	$34.96	$31.66 - $38.47
Q1 2018	393,180	$16,396	$33.20	$31.09 - $34.82
Q4 2017	384,580	$16,175	$33.01	$29.02 - $35.20
Q3 2017	384,580	$16,510	$30.64	$28.63 - $33.44
Q2 2017	364,872	$14,646	$30.90	$28.32 - $33.41
Q1 2017	277,572	$10,914	$29.75	$26.87 - $32.13
Q4 2016	280,000	$10,542	$24.15	$19.60 - $28.97
Q3 2016	280,000	$7,490	$19.98	$18.03 - $20.70
Q2 2016	280,000	$6,980	$18.70	$16.99 - $20.04
Q1 2016	280,000	$6,600	$17.09	$15.76 - $18.88
Q4 2015	280,000	$7,118	$19.62	$18.41 - $20.54
Q3 2015	216,221	$5,669	$19.18	$18.23 - $19.83
Q2 2015	118,768	$2,934	$17.41	$16.29 - $18.80
Q1 2015	81,417	$1,917	$16.75	$15.70 - $17.66
Q4 2014	18,600	$423	$15.93	$14.60 - $17.19
Q3 2014	18,600	$376	$14.88	$14.19 - $16.12
Q2 2014	18,600	$393	$15.12	$14.08 - $16.56
Q1 2014	18,600	$403	$15.38	$14.30 - $16.42
Q4 2013	18,600	$423	$14.49	$12.54 - $16.92
Q3 2013	18,600	$322	$12.95	$12.05 - $13.80
Q2 2013	18,600	$319	$11.60	$10.12 - $12.60