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 and deferred director fees under Midland States Bancorp's compensation plans.

Summary

• On March 31, 2025, Jeffrey M. McDonnell, a director of Midland States Bancorp, Inc., reported transactions involving common stock equivalents.
• McDonnell acquired 336.411 common share equivalents at $19.33 each through dividend reinvestment in the Directors Deferred Compensation Plan (DDCP).
• He also acquired 671.729 common share equivalents at $17.12 each under the DDCP related to deferred director fees.
• These common share equivalents are the economic equivalent of one share of common stock and vest fully on the transaction date, becoming payable upon termination of service as a director.
• McDonnell directly owns 1,987 shares of common stock and indirectly owns 24,245 shares through the Jeffrey M. McDonnell Revocable Trust UA.
• Following these transactions, McDonnell beneficially owns 15,792.1076 common share equivalents.
• McDonnell has a power of attorney designating Nathan D. Sturycz and Stephanie Gurgel to handle SEC filings on his behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions reflect standard director compensation practices and alignment with shareholder interests. There are no indications of negative performance or concerns.

Positives

• The acquisition of common share equivalents through dividend reinvestment and deferred compensation aligns director interests with shareholder value.

Future Outlook

The document does not contain specific forward-looking statements, but the ongoing participation in the Directors Deferred Compensation Plan suggests a continued alignment of director and shareholder interests.

Industry Context

Director compensation and stock ownership are common practices in the banking industry to align management's interests with those of shareholders. Deferred compensation plans and dividend reinvestment programs are frequently used.

Comparison to Industry Standards

• Many regional banks use deferred compensation plans for directors, similar to Midland States Bancorp.
• Stock ownership guidelines for directors are also common, encouraging alignment with shareholder interests.
• Comparing McDonnell's holdings and compensation structure to those of directors at comparable regional banks (e.g., First Midwest Bancorp, Old National Bancorp) would provide further context.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders by aligning director interests with shareholder value.

Key Dates

Keywords

Midland States Bancorp, Director, Jeffrey McDonnell, Common Share Equivalents, Dividend Reinvestment, Deferred Compensation, SEC Form 4, MSBI