Form 4: Director McDonnell Boosts MSBI Holdings

Midland States Bancorp Director Jeffrey M. McDonnell reported an increase in his beneficial ownership of company common stock and common share equivalents through dividend reinvestment and deferred director fees.

Summary

• Jeffrey M. McDonnell, a Director of Midland States Bancorp, Inc. (MSBI), reported changes in his beneficial ownership of company securities.
• Direct holdings of common stock are 1,987 shares.
• Indirect holdings of common stock through the Jeffrey M. McDonnell Revocable Trust UA are 24,245 shares.
• Acquired 529.811 common share equivalents on December 31, 2025, through dividend reinvestment at an equivalent price of $16.17 per share. These vested immediately and are payable upon termination of service as a director.
• Acquired an additional 543.222 common share equivalents on December 31, 2025, from deferred director fees, based on a closing price of $21.17 per share. These also vested immediately and are payable upon termination of service as a director.
• Total direct beneficial ownership of common share equivalents following these transactions is 18,389.9418.
• Holds 9,455.125 Restricted Stock Units directly.

Sentiment

Score: 7

Explanation: The filing indicates a director increasing their beneficial ownership through routine compensation and dividend reinvestment, which is generally a positive signal of confidence in the company.

Positives

• Director Jeffrey M. McDonnell increased his beneficial ownership of common share equivalents through dividend reinvestment and deferred director fees, indicating continued confidence in the company's future.
• The acquisition of common share equivalents through dividend reinvestment (529.811 units at $16.17) and deferred director fees (543.222 units at $21.17) demonstrates a commitment to long-term investment in Midland States Bancorp.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

Form 4 filings are standard regulatory disclosures for insiders, providing transparency into their transactions. Increased insider holdings, especially through compensation and dividend reinvestment, are generally viewed as a positive signal of management's confidence in the company's future performance within the banking sector.

Corporate Governance

Related Party Transactions

• Acquisition of common share equivalents by Director Jeffrey M. McDonnell through the Issuer's Directors Deferred Compensation Plan (DDCP) for deferred director fees and dividend reinvestment.

Stakeholder Impact

• Shareholders may view the director's increased holdings as a positive indicator of management's alignment with shareholder interests and confidence in the company's long-term prospects.

Next Steps

• Common share equivalents acquired through dividend reinvestment and deferred director fees will become payable upon termination of service as a director.

Key Dates

Keywords

Midland States Bancorp, MSBI, Jeffrey M. McDonnell, Form 4, Insider Transaction, Director Holdings, Common Stock, Share Equivalents, Dividend Reinvestment, Deferred Compensation