Form 4: Midland States Bancorp Director Robert F. Schultz Reports Acquisition of Common Share Equivalents

Robert F. Schultz, a director of Midland States Bancorp, Inc., reported the acquisition of common share equivalents through dividend reinvestment and director fee deferral.

Summary

• Robert F. Schultz, a director of Midland States Bancorp, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report indicates the acquisition of common share equivalents through the Directors Deferred Compensation Plan (DDCP) due to dividend reinvestments and deferred director fees.
• Specifically, Mr. Schultz acquired 1,481.916 common share equivalents at $21.66 and 759.607 common share equivalents at $22.38.
• These common share equivalents are the economic equivalent of one share of common stock and vest immediately, becoming payable upon termination of service as a director.
• Mr. Schultz also holds common stock directly and indirectly through various entities, including a self-directed IRA, his spouse, Red Bird Investors, LLC, Summit Investors, LLP, and J.M. Schultz Investment, LLC.
• The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard regulatory filing detailing insider transactions. The acquisition of shares by a director is generally viewed as a positive sign, but the overall impact is likely minimal.

Positives

• The acquisition of shares by a director can be seen as a positive signal, indicating confidence in the company's future performance.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency regarding the holdings and transactions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring transparency and compliance with SEC regulations.
• Similar filings are made by directors and officers of comparable financial institutions, such as First Midwest Bancorp and Wintrust Financial, when they engage in transactions involving their company's stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The acquisition of shares by a director may have a slightly positive impact on shareholder sentiment.

Key Dates