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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
GALLIHER, DAVID A.
2500 WEST BERWYN ROAD
MUNCIE, IN 47304
2. Issuer Name and Ticker or Trading Symbol
FIRST MERCHANTS CORPORATION
FRME
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
October 31, 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock |10-01-|P | |58.6471 |A |37.5125 |6,500.151(1) |D | |
|98 | | | | | | | | |
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Common Stock | | | | | | |907 |I |Spouse-Agency and IRA |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Non-Employee Director | | | | | | | | | | | |4,500 |D | |
Stock Option (Right to| | | | | | | | | | | | | | |
Buy) | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Includes 30.5961 shares acquired in September 1998 (pre-split) under the
First Merchants Corporation dividend reinvestment plan. On August 11,
1998, the Board of Directors of First Merchants Corporation authorized a
3-for-2 split of the Corporation's common stock. One additional share of
common stock for each two shares held by the reporting person on the record
date, October 16, 1998, was distributed October 23, 1998. Fractional
shares were distributed in cash. The options previously reported were also
adjusted to reflect the stock split.
SIGNATURE OF REPORTING PERSON
David A. Galliher (Confirming Statement on File)
DATE
November 2, 1998