Form 4: Midland States Bancorp Director Boosts Stake

Richard T. Ramos, a director at Midland States Bancorp, Inc., reported an increase in his beneficial ownership of common stock and common share equivalents, including through dividend reinvestment.

Summary

• Richard T. Ramos, a Director of Midland States Bancorp, Inc. (MSBI), reported changes in his beneficial ownership of company securities.
• Ramos directly owns 20,103 shares of Common Stock, jointly with his spouse.
• He indirectly owns 500 shares of Common Stock through his daughter and 500 shares through his son, disclaiming beneficial ownership except to the extent of his pecuniary interest.
• On September 30, 2025, Ramos acquired 899.0265 Common Share Equivalents in the Director Deferred Compensation Plan (DDCP) at a price of $17.35 per equivalent.
• These Common Share Equivalents were acquired through the reinvestment of dividends received during the quarter and fully vested on the transaction date, becoming payable upon termination of service as a director.
• Following these transactions, Ramos beneficially owns 44,652.1691 Common Share Equivalents and 4,990 Restricted Stock Units directly.

Sentiment

Score: 7

Explanation: The director's acquisition of additional shares and common share equivalents, particularly through dividend reinvestment, signals confidence in the company's future prospects, which is generally viewed positively by the market.

Positives

• A director increasing their beneficial ownership, particularly through dividend reinvestment, signals confidence in the company's future prospects and financial health.
• The reinvestment of dividends into common share equivalents indicates a long-term commitment from the director to the company's performance.

Future Outlook

N/A, as this Form 4 filing reports individual insider transactions and does not provide forward-looking statements or guidance from the company.

Industry Context

This Form 4 filing details an individual insider transaction and does not provide information for broader industry trend analysis or competitive positioning.

Corporate Governance

Related Party Transactions

• Richard T. Ramos reported indirect beneficial ownership of 500 shares of Common Stock held by his daughter and 500 shares held by his son. He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders may view the director's increased stake as a positive signal, indicating management's confidence in the company's value and future performance.

Key Dates

Recommendation

The director's decision to increase beneficial ownership, including through dividend reinvestment, indicates a vote of confidence in Midland States Bancorp's long-term value and future performance, which is generally a positive signal for investors.

Keywords

Midland States Bancorp, MSBI, Form 4, Insider Transaction, Director, Stock Ownership, Dividend Reinvestment, Beneficial Ownership