Form 4: Midland States Bancorp Director Carlson Reports Acquisition of Common Share Equivalents

Director Gerald Carlson reports acquiring common share equivalents through dividend reinvestment and deferred director fees under Midland States Bancorp's compensation plans.

Summary

• Director Gerald Carlson filed a Form 4 disclosing transactions in Midland States Bancorp, Inc. [MSBI] securities.
• The transactions involve the acquisition of common share equivalents through the Directors Deferred Compensation Plan (DDCP) and the 2019 Long-term incentive plan.
• On September 30, 2024, Carlson acquired 39.081 common share equivalents through dividend reinvestment at a price of $21.66.
• Additionally, 670.241 common share equivalents were acquired through deferred director fees at a price of $22.38 on the same date.
• Carlson directly owns 1,000 shares of common stock.
• Following the reported transactions, Carlson beneficially owns 3,439.971 common share equivalents.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and alignment with shareholder interests.

Positives

• The director's participation in the DDCP and long-term incentive plan demonstrates alignment with the company's long-term performance.

Future Outlook

The vested shares will be delivered to the reporting person based on the terms of the DDCP and the reporting person's distribution elections thereunder.

Industry Context

Directors often participate in deferred compensation plans and receive stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation packages, including deferred compensation and equity grants, are common across the banking industry.
• Comparable companies like Old National Bancorp (ONB) and First Financial Bancorp (FFBC) also utilize similar compensation structures for their directors.

Related Party Transactions

• The acquisitions of common share equivalents through the DDCP and long-term incentive plan are related-party transactions.

Stakeholder Impact

• The director's increased stake in the company could positively influence shareholder confidence.

Key Dates