Form 4: Midland States Bancorp Director Reports Acquisition of Common Share Equivalents and Restricted Stock Units

Director Jerry L. McDaniel reports transactions involving common stock equivalents and restricted stock units of Midland States Bancorp, Inc.

Summary

• On March 31, 2025, Jerry L. McDaniel, a director of Midland States Bancorp, Inc., reported transactions related to the company's securities.
• McDaniel acquired common share equivalents through dividend reinvestment in the DDCP, representing 583.339 shares at a price of $19.33 each.
• He also holds 2,060 restricted stock units acquired under the 2019 Long-Term Incentive Plan and deferred under the DDCP, which will fully vest on March 31, 2020, and be delivered based on the DDCP terms.
• McDaniel also has indirect ownership through various entities and trusts.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of common share equivalents through dividend reinvestment demonstrates McDaniel's continued investment in the company.
• The vesting of restricted stock units aligns McDaniel's interests with the long-term performance of the company.

Future Outlook

The restricted stock units will fully vest on March 31, 2020, and vested shares will be delivered to the reporting person based on the terms of the DDCP and the reporting person's distribution elections thereunder.

Management Comments

• The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure required by Section 16(a) of the Securities Exchange Act of 1934, providing transparency into the transactions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The information disclosed is consistent with regulatory requirements for reporting changes in beneficial ownership.

Stakeholder Impact

• Shareholders are informed about the transactions of a key company insider.
• This disclosure helps maintain transparency and trust in the company's management.

Key Dates

Keywords

Form 4, Midland States Bancorp, Director, Jerry L. McDaniel, Common Stock Equivalents, Restricted Stock Units, Dividend Reinvestment, DDCP, Insider Trading