Form 4: Midland States Bancorp Director Carlson Acquires Additional Common Share Equivalents Through Deferred Compensation Plan

Director Gerald Joseph Carlson increased his holdings of Midland States Bancorp common share equivalents through dividend reinvestment and deferred director fees under the company's compensation plans.

Summary

• On March 31, 2025, Gerald Joseph Carlson, a director of Midland States Bancorp, Inc., acquired additional common share equivalents.
• These acquisitions were made through the company's Directors Deferred Compensation Plan (DDCP) and the 2019 Long-term incentive plan.
• Carlson acquired 65.677 common share equivalents through dividend reinvestment at a price of $19.33 per share.
• He also acquired 876.168 common share equivalents through deferred director fees at a price of $17.12 per share.
• Following these transactions, Carlson directly owns 4,160.965 common stock and 5,037.133 common share equivalents.
• Carlson has granted power of attorney to Nathan D. Sturycz and Stephanie Gurgel to handle Section 16 filings.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, suggesting a neutral to slightly positive sentiment as it indicates director's continued investment in the company.

Positives

• Director Carlson's increased investment in common share equivalents may signal confidence in the company's future performance.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance.

Industry Context

Directors utilizing deferred compensation plans are common in the banking industry as it aligns their interests with long-term shareholder value.

Comparison to Industry Standards

• Deferred compensation plans for directors are a standard practice in the banking industry, similar to those offered by companies like First Financial Bancorp and Old National Bancorp.
• The specific terms of the DDCP, such as vesting schedules and payout conditions, would need to be compared to those of peer institutions to assess its competitiveness.

Related Party Transactions

• The acquisition of common share equivalents through the DDCP constitutes a related party transaction, as it involves compensation to a director of the company.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine part of director compensation.
• It may indirectly benefit shareholders if it aligns director interests with long-term company performance.

Key Dates

Keywords

Midland States Bancorp, Director, Carlson, Common Share Equivalents, DDCP, Dividend Reinvestment, Deferred Compensation, Section 16, Form 4