Form 4: Midland States Bancorp CEO Jeffrey Ludwig Reports Stock Disposals

Jeffrey Ludwig, President & CEO of Midland States Bancorp, reported the disposal of common stock to cover tax obligations related to equity awards.

Summary

• Jeffrey G. Ludwig, President & CEO of Midland States Bancorp, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On October 31, 2024, Mr. Ludwig disposed of 677 shares of common stock at a price of $24.81 per share to cover tax obligations.
• On November 1, 2024, he disposed of an additional 1,062 shares at $24.77 per share for the same reason.
• Following these transactions, Mr. Ludwig directly owns 342,196.432 shares of Midland States Bancorp, Inc.
• He also indirectly owns 11,569 shares through JQ Properties, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• Mr. Ludwig also holds options to purchase 52,291 shares at $28.43, which vest in four equal annual installments beginning one year after October 31, 2022.
• He also holds options to purchase 16,800 shares at $23 and 8,383 shares at $28.59, which vest in four equal annual installments beginning one year after the 11/03/2015 and 11/16/2016 dates of grant respectively.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Comparing Ludwig's transactions to those of executives at similar regional banks would provide context.
• For example, if executives at competitor First Midwest Bancorp (now part of Old National Bancorp) or Wintrust Financial Corporation have recently engaged in similar stock disposals for tax purposes, it would suggest a common practice.
• Analyzing the percentage of shares disposed of relative to Ludwig's total holdings and comparing it to industry benchmarks for executive compensation and tax planning would also be informative.

Stakeholder Impact

• The stock disposal may have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the stated reason for the transaction.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates