Form 4: Midland States Bancorp Director Jerry L. McDaniel Reports Changes in Beneficial Ownership

Director Jerry L. McDaniel reports changes in beneficial ownership of Midland States Bancorp, Inc. securities, including acquisitions of common stock equivalents and restricted stock units.

Summary

• On September 30, 2024, Jerry L. McDaniel, a director of Midland States Bancorp, Inc., reported changes in his beneficial ownership of the company's securities.
• These changes include the acquisition of common stock equivalents and restricted stock units.
• McDaniel also holds common stock indirectly through various entities, including Four Diamond Capital LLC, a revocable trust, and holdings by his daughter and son.
• The report details both direct and indirect ownership of common stock and depositary shares.
• He acquired 507.262 common share equivalents through dividend reinvestments at a price of $21.66 per share.
• Additionally, he holds 2,060 restricted stock units acquired under the 2019 Long-Term Incentive Plan, which are deferred under the DDCP and will fully vest on March 31, 2020.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's continued investment through dividend reinvestments and holding of restricted stock units suggest confidence in the company's future, but the filing itself is a routine disclosure.

Positives

• The acquisition of common share equivalents through dividend reinvestments indicates confidence in the company's performance.
• The holding of restricted stock units aligns the director's interests with the long-term success of the company.

Future Outlook

The document does not contain specific forward-looking statements, but the director's continued investment in the company suggests a positive outlook.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the director's ongoing investment in the company.

Comparison to Industry Standards

• Tracking insider transactions is a common practice in the financial industry to gauge management's sentiment and alignment with shareholder interests.
• Companies like JPMorgan Chase & Co. and Bank of America also have similar insider transaction reporting requirements.
• The level of detail provided in this Form 4 is consistent with SEC regulations and industry standards for transparency.

Stakeholder Impact

• Shareholders can use this information to understand the investment behavior of a key company insider.
• The filing provides transparency into the director's holdings and transactions, which can influence investor confidence.

Key Dates