Form 4: First Busey President Increases Stake

First Busey Corp President and Director Mike Maddox reported recent acquisitions of common stock and depositary shares.

Summary

• Mike Maddox, President and Director of First Busey Corp, reported changes in his beneficial ownership.
• On July 28, 2025, he acquired 1.809 shares of Common Stock at $23.1925 through dividend reinvestment in the Employee Stock Purchase Plan, an exempt transaction.
• On September 2, 2025, he purchased 21,780 Depositary Shares at a weighted average price of $25.2622.
• Each Depositary Share represents 1/40th interest in a share of the issuer's 8.25% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B.
• Following these transactions, direct holdings include 210,307.6211 Common Stock and 50 Series A Non-Cumulative Perpetual Preferred Stock.
• Indirect holdings (through spouse) include 4,739 Common Stock, 100 Series A Non-Cumulative Perpetual Preferred Stock, and 21,780 Depositary Shares.
• Maddox also holds various Stock Appreciation Rights (SARs) with exercise prices ranging from $9.37 to $21.35 and expiration dates up to July 26, 2033.

Sentiment

Score: 7

Explanation: The significant insider purchase of depositary shares by a key executive suggests strong internal confidence in the company's value and future performance, which is generally a positive signal for investors.

Positives

• The significant insider purchase of 21,780 Depositary Shares by a key executive indicates strong management confidence in the company's future prospects.
• Acquisition of common stock through dividend reinvestment demonstrates continued participation in employee plans and alignment of interests.

Industry Context

Insider purchases by a bank executive can signal confidence in the financial sector, especially regarding the stability and growth prospects of the individual institution amidst broader economic conditions. Such actions often reflect a belief in the company's intrinsic value or future performance potential.

Related Party Transactions

• Indirect beneficial ownership of securities held by the reporting person's spouse is disclosed, though the reporting person disclaims beneficial ownership for Section 16 purposes.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive signal of management's belief in the company's value, potentially increasing investor confidence.
• Employees participating in the Employee Stock Purchase Plan benefit from dividend reinvestment, aligning their interests with company performance.

Key Dates

Recommendation

The significant purchase of depositary shares by President and Director Mike Maddox signals strong insider confidence in First Busey Corp's future. This positive indicator suggests management believes the stock is undervalued or has strong growth potential. However, a 'hold' recommendation is prudent as a Form 4 filing primarily reports transactions and does not provide a comprehensive financial overview or strategic update necessary for a 'buy' or 'strong buy' rating. Investors should consider this insider activity in conjunction with the company's latest financial reports and market conditions.

Keywords

First Busey Corp, BUSE, Mike Maddox, Insider Trading, Form 4, Stock Purchase, Depositary Shares, Common Stock, Preferred Stock, Stock Appreciation Rights, Director, President