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

Director Robert F. Schultz reports acquisition of common share equivalents through dividend reinvestment and deferred compensation plan.

Summary

• Robert F. Schultz, a director of Midland States Bancorp, Inc., filed a Form 4 on April 1, 2024, reporting transactions in the company's securities.
• On March 28, 2024, Schultz acquired 1,201.066 common share equivalents at a price of $25.22 through dividend reinvestment.
• Additionally, he acquired 577 common share equivalents at $25.13 under the Director's Deferred Compensation Plan (DDCP) due to deferred director fees.
• Following these transactions, Schultz directly owns 32,117 shares of common stock.
• He also has indirect ownership through his spouse, Red Bird Investors, LLC, Summit Investors, LLP, and J.M. Schultz Investment, LLC.
• The total number of common share equivalents beneficially owned following the reported transactions is 90,343.3761.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director is increasing their stake in the company through standard compensation and reinvestment programs, indicating confidence, but it's not a large or unexpected transaction.

Positives

• The director's participation in the dividend reinvestment and deferred compensation plans demonstrates confidence in the company's future.

Industry Context

Tracking insider transactions provides insights into management's perspective on the company's valuation and future prospects within the banking industry.

Comparison to Industry Standards

• Comparing insider transaction activity at Midland States Bancorp to similar regional banks like First Midwest Bancorp or Old National Bancorp can provide context on management's sentiment relative to peers.
• Director participation in dividend reinvestment programs is a common practice, but the scale of participation can be compared to industry benchmarks to gauge relative enthusiasm.

Stakeholder Impact

• The transactions signal to shareholders that a director is increasing their investment in the company, which can be viewed positively.

Key Dates