Form 4: First Mid Bancshares Director Cook Acquires Shares Through Deferred Compensation Plan

Director Robert S Cook acquired shares of First Mid Bancshares through the company's Deferred Compensation Plan.

Summary

• On July 3, 2024, Robert S Cook, a director of First Mid Bancshares, Inc. (FMBH), acquired 415.8448 shares of common stock at a price of $32.57 per share.
• The acquisition was made through the company's Deferred Compensation Plan.
• Following the transaction, Cook directly owns 16,322 shares and indirectly owns 4,093.5688 shares through a deferred compensation plan, 11,980 shares as custodian for children, 6,106 shares through an IRA, 13,814 shares through an LLC, and 244 shares through a spouse.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of shares through a pre-existing plan is a routine transaction, but it does signal confidence in the company.

Positives

• The director's participation in the Deferred Compensation Plan signals confidence in the company's future.

Industry Context

Insider transactions are closely monitored as they can provide insights into management's perspective on the company's valuation and future prospects. Acquisitions, especially by directors, are often viewed positively.

Comparison to Industry Standards

• Comparing Cook's transactions to those of other directors in similar-sized regional banks could provide context on the scale of his investment.
• For example, directors at companies like Commerce Bancshares (CBSH) or UMB Financial Corporation (UMBF) often participate in similar deferred compensation plans, and their transaction sizes can be used as a benchmark.
• Analyzing the percentage of Cook's total holdings relative to his compensation and overall company equity can also offer valuable insights.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholder sentiment, as it reflects insider confidence.

Key Dates