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

Director Jeffrey M. McDonnell reports acquiring common share equivalents through dividend reinvestment in Midland States Bancorp's DDCP.

Summary

• Jeffrey M. McDonnell, a director of Midland States Bancorp, Inc., filed a Form 4 on April 1, 2024, reporting a transaction on March 28, 2024.
• The transaction involved the acquisition of 244.955 common share equivalents at a price of $25.22.
• These equivalents were acquired through the Dividend Direct Credit Program (DDCP) via reinvestment of dividends.
• McDonnell also indirectly owns 21,955 shares of common stock through the Jeffrey M. McDonnell Revocable Trust UA.
• He also owns 13,980.2816 common share equivalents and 6,193 restricted stock units.
• Douglas J. Tucker acted as attorney-in-fact for the filing.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director increasing their stake in the company through dividend reinvestment, indicating confidence. However, it's a routine transaction.

Positives

• The acquisition of common share equivalents through dividend reinvestment demonstrates the director's continued investment in the company.

Industry Context

Form 4 filings are standard practice for reporting insider transactions and are required by the SEC to provide transparency to investors.

Stakeholder Impact

• The transaction may have a minor positive impact on shareholders as it signals insider confidence.

Key Dates