Form 4: First Busey Corp Director Mike Maddox Reports Acquisition of Common Stock

Mike Maddox, a director and President of First Busey Corp, reported acquiring 1,061 shares of common stock due to dividend equivalent rights.

Summary

• On April 25, 2025, Mike Maddox, a director and President of First Busey Corp, acquired 1,061 shares of common stock.
• The acquisition was due to dividend equivalent rights accrued on Restricted Stock Units.
• These rights are linked to cash dividends paid on First Busey Corporation stock, with each right equivalent to one share.
• Following the transaction, Maddox directly owns 209,129 shares of common stock and indirectly owns 4,739 shares through a spouse.
• Maddox also indirectly owns 50 shares of Series A Non-Cumulative Perpetual Preferred Stock and 100 shares through a spouse.
• Maddox also has various Stock Appreciation Rights (SARs) with different exercise prices and expiration dates.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard regulatory filing indicating an insider transaction related to compensation. There's no inherent positive or negative implication.

Positives

• The acquisition of shares through dividend equivalent rights can be seen as a positive, reflecting the company's dividend payouts.
• Maddox's continued holdings in First Busey Corp stock and SARs demonstrate a vested interest in the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in the financial services industry. Monitoring such filings provides insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies like First Busey Corp, similar to filings made by executives at comparable regional banks such as Commerce Bancshares or UMB Financial Corporation.
• The reported transactions are typical for executives receiving stock-based compensation or exercising stock options, aligning with industry norms.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency regarding insider ownership, which can influence investor confidence.

Key Dates

Keywords

Form 4, First Busey Corp, Mike Maddox, Stock Appreciation Rights, Dividend Equivalent Rights, Beneficial Ownership, Common Stock