Insider Trading Arrangements |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Trading Arrangements, by Individual [Table] | |
| Material Terms of Trading Arrangement [Text Block] |
Item 5. Other Information
Rule 10b5-1 Trading Plans
During the quarter ended March 31, 2025, of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”
First Amendment to Credit Agreement
On May 12, 2025, First Merchants Bank, the Company and the Company’s subsidiaries executed a First Amendment to Credit Agreement. The amendment provides that, effective March 31, 2025, the maximum Senior Funded Debt to EBITDA ratio as of March 31, 2025 and June 30, 2025 was increased from 3.75 to 1.00 to 4.00 to 1.00, and the maximum ratio as of September 30, 2025 and thereafter remains at 3.75 to 1.00. |
| Rule 10b5-1 Arrangement Adopted [Flag] | false |
| Rule 10b5-1 Arrangement Terminated [Flag] | false |
| Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
| Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |