Form 4: Midland States Bancorp Director Reports Stock Transactions

Richard Dean Bingham, a Director at Midland States Bancorp, Inc., reported transactions involving common stock and restricted stock units.

Summary

• Richard Dean Bingham, a Director of Midland States Bancorp, Inc. (MSBI), filed a Form 4 detailing transactions related to his beneficial ownership of the company's securities.
• The filing indicates a transaction date of June 30, 2026, for the reported activities.
• Bingham's holdings include common stock, common share equivalents held in a Directors Deferred Compensation Plan (DDCP), and restricted stock units.
• Specifically, 27,700 shares of common stock are directly owned, and 1,000 shares are indirectly owned via an IRA.
• Additionally, 42,554 shares of common stock are indirectly owned through Agracel, Inc.
• The filing also details common share equivalents acquired through dividend reinvestment in the DDCP, totaling 393.1 equivalents, with a price of $26.55 per equivalent.
• Restricted stock units acquired amounted to 1,445 units, with a value of $31.14 per unit.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents routine insider reporting of stock transactions and holdings without indicating significant positive or negative developments for the company.

Positives

• Director Richard Dean Bingham continues to hold a significant direct and indirect beneficial ownership in Midland States Bancorp, Inc.
• The acquisition of common share equivalents through dividend reinvestment suggests ongoing participation in the company's equity growth.
• The acquisition of restricted stock units indicates continued incentive-based compensation tied to the company's performance.

Risks

• The filing does not explicitly mention any risks or challenges.
• The nature of indirect beneficial ownership through entities like Agracel, Inc. could introduce complexities in understanding ultimate control or pecuniary interest.

Future Outlook

The filing does not contain forward-looking statements or guidance. The common share equivalents in the Directors Deferred Compensation Plan become payable upon the reporting person's termination of service as a director.

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.
• Each common share equivalent is the economic equivalent of one share of common stock.
• Common stock equivalents received for dividend reinvestments fully vested on the transaction date listed above and become payable upon termination of service as a director.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insiders of publicly traded companies, providing transparency on stock transactions. This filing from Midland States Bancorp, Inc. is typical for a director reporting their equity holdings and any changes.

Corporate Governance

Stakeholder Impact

• Shareholders gain transparency into director's equity transactions and holdings, aiding in assessing insider confidence.
• Employees may observe director's continued investment, potentially signaling stability or commitment.
• Creditors are provided with information that may indirectly reflect on the company's financial health and insider confidence.

Next Steps

• Common share equivalents held in the Directors Deferred Compensation Plan become payable upon termination of service as a director.

Key Dates

Keywords

Midland States Bancorp, MSBI, Form 4, SEC Filing, Director Transactions, Beneficial Ownership, Common Stock, Restricted Stock Units, Deferred Compensation Plan, Richard Dean Bingham