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

Director Jeffrey M. McDonnell reports acquiring common stock 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 January 2, 2025, reporting a transaction on December 31, 2024.
• The transaction involved the acquisition of 244.467 common stock equivalents through dividend reinvestment in the company's DDCP at a price of $26.29 per equivalent.
• Following the transaction, McDonnell directly owns 1,987 shares of common stock and indirectly owns 24,245 shares through the Jeffrey M. McDonnell Revocable Trust UA.
• He also directly owns 14,783.9676 common share equivalents and 6,193 restricted stock units.
• McDonnell has a Power of Attorney designating Douglas J. Tucker to handle Section 16 filings.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director is increasing their holdings, which can be seen as a positive sign, but it's a routine transaction through a dividend reinvestment program.

Positives

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

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's securities, providing transparency to the market.

Comparison to Industry Standards

• Tracking insider transactions is a common practice in financial analysis to gauge management's sentiment and confidence in the company's prospects.
• Comparing McDonnell's holdings and transactions to those of other directors in similar-sized banks could provide insights into relative valuation and growth expectations.
• Companies like First Midwest Bancorp (now part of Old National Bancorp) and Wintrust Financial Corporation serve as regional bank peers for benchmarking purposes.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider activity.
• It may have a minor positive impact on shareholder sentiment as it reflects the director's continued investment in the company.

Key Dates