Form 4: Midland States Bancorp Director Reports Transactions in Company Stock

Richard Dean Bingham, a director of Midland States Bancorp, Inc., reports transactions involving common stock and common share equivalents, including acquisitions through a deferred compensation plan and dividend reinvestments.

Summary

• Richard Dean Bingham, a director at Midland States Bancorp, Inc. (MSBI), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The reported transactions include the acquisition of common share equivalents through the Directors Deferred Compensation Plan (DDCP) and dividend reinvestments.
• As of the latest report, Bingham directly owns 22,700 shares of common stock and indirectly owns 1,000 shares through an IRA.
• He also indirectly holds 4,000 Series A Preferred Depositary Shares and 42,554 shares through Agracel, Inc.
• The report also details the acquisition of common share equivalents under the DDCP, with 317.138 shares acquired through dividend reinvestment at a price of $21.66 and 703.753 shares acquired through deferred director fees at a price of $22.38.
• Bingham also holds 6,371.6 Restricted Stock Units.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, indicating routine transactions. The sentiment is neutral, reflecting the expected nature of the disclosure.

Positives

• The acquisition of shares through the DDCP and dividend reinvestment indicates a continued investment and alignment with the company's performance.

Future Outlook

The document does not contain specific forward-looking statements, but it does indicate ongoing participation in the Directors Deferred Compensation Plan.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Comparison to Industry Standards

• Director compensation plans, including deferred compensation and stock awards, are common across publicly traded companies.
• The specifics of Midland States Bancorp's DDCP would need to be compared to those of peer banks to assess its competitiveness and attractiveness to directors.
• Companies like JP Morgan Chase, Bank of America, and Wells Fargo also have similar reporting requirements for their executives and directors.

Stakeholder Impact

• The transactions reported may influence investor perception of management's alignment with shareholder interests.

Key Dates