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

Mike Maddox, a director at First Busey Corp, reported the acquisition of restricted stock units and other transactions involving company stock and derivative securities.

Summary

• On March 26, 2025, Mike Maddox, a director and President of First Busey Corp, reported transactions involving the company's securities.
• Maddox acquired 40,613 shares of common stock through a grant of Restricted Stock Units (RSUs) at a price of $0.
• These RSUs vest in equal installments over the first three anniversaries of the grant date.
• Following the reported transactions, Maddox directly owns 208,068 shares of common stock.
• Maddox also indirectly owns 4,739 shares of common stock through a spouse.
• Maddox directly owns 50 shares of Series A Non-Cumulative Perpetual Preferred Stock.
• Maddox indirectly owns 100 shares of Series A Non-Cumulative Perpetual Preferred Stock through a spouse.
• Maddox also holds 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 detailing insider transactions. The acquisition of RSUs is generally a positive sign, but it's a routine occurrence.

Positives

• The acquisition of restricted stock units aligns the director's interests with the long-term performance of the company.
• The vesting schedule of the RSUs encourages continued service and contribution to the company's success.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting schedule of the RSUs suggests an expectation of continued service from the director.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Comparison to Industry Standards

• Stock grants and option awards are a common form of compensation for executives and directors in the financial services industry.
• Companies like JP Morgan Chase, Bank of America, and Wells Fargo also utilize similar equity-based compensation plans to align management interests with shareholder value.
• The vesting schedules and terms of these grants are generally comparable across the industry, with variations based on individual performance and company-specific factors.

Stakeholder Impact

• The transactions reported in the Form 4 provide transparency to shareholders regarding the holdings and transactions of a company director.
• The acquisition of RSUs aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates

Keywords

Form 4, insider trading, stock appreciation rights, restricted stock units, Mike Maddox, First Busey Corp, beneficial ownership