Form 4: First Mid Bancshares Executive Acquires Shares Under Incentive Plan

Matthew K. Smith, EVP and Chief Financial Officer of First Mid Bancshares, acquired 3,850 shares of common stock under the company's Long Term Incentive Plan.

Summary

• Matthew K. Smith, the EVP and Chief Financial Officer of First Mid Bancshares, acquired 3,850 shares of common stock on January 27, 2025.
• The shares were acquired at a price of $38.96 per share.
• These shares were awarded under the company's Long Term Incentive Plan.
• The shares will vest in three equal installments, starting on December 15, 2025.
• Following this transaction, Mr. Smith directly owns 17,746 shares of common stock and indirectly owns 2,005.2822 shares through a deferred compensation plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed positively as it aligns management interests with shareholders. There is no indication of any negative sentiment.

Positives

• The acquisition of shares by a key executive demonstrates confidence in the company's future performance.
• The vesting schedule of the shares aligns executive interests with long-term company success.

Future Outlook

The shares acquired will vest over the next three years, aligning executive compensation with long-term performance.

Industry Context

This is a routine filing related to executive compensation and is common in the financial services industry.

Comparison to Industry Standards

• Executive compensation packages often include stock options and grants that vest over time, similar to the First Mid Bancshares Long Term Incentive Plan.
• Many financial institutions use similar vesting schedules to align executive interests with long-term shareholder value.
• Comparable companies such as Heartland Financial USA and Old National Bancorp also utilize stock-based compensation as part of their executive pay packages.

Stakeholder Impact

• The stock acquisition by a key executive may positively influence shareholder confidence.
• The vesting schedule of the shares aligns executive interests with long-term company success, which is beneficial for shareholders.

Key Dates

Keywords

First Mid Bancshares, FMBH, insider trading, executive compensation, stock acquisition, Long Term Incentive Plan, Matthew K. Smith, share vesting