Form 4: Midland States Bancorp Director Smith Acquires Additional Common Share Equivalents Through Dividend Reinvestment and Deferred Compensation Plan

Director Jeffrey C. Smith of Midland States Bancorp, Inc. reports the acquisition of common share equivalents through dividend reinvestment and participation in the Directors Deferred Compensation Plan (DDCP).

Summary

• On September 30, 2024, Jeffrey C. Smith, a director of Midland States Bancorp, Inc., reported transactions involving common share equivalents.
• Smith acquired 214.445 common share equivalents at a price of $21.66 through the Dividend Reinvestment Program (DDCP).
• Additionally, Smith acquired 343.834 common share equivalents at a price of $22.38 under the Directors Deferred Compensation Plan (DDCP).
• Following these transactions, Smith directly owns 32,959 shares of common stock.
• Smith also holds 5,080.769 common share equivalents from dividend reinvestments and 5,424.603 common share equivalents from deferred director fees.
• Smith also holds 10,116.779 Restricted Stock Units.
• Douglas J. Tucker is acting as attorney-in-fact for Jeffrey C. Smith, according to a previously filed power of attorney.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's participation in the dividend reinvestment and deferred compensation plan indicates confidence in the company's performance. It's a routine transaction, so the impact is limited.

Positives

• Director's participation in the DDCP and dividend reinvestment program demonstrates confidence in the company's future.

Industry Context

Directors commonly participate in dividend reinvestment programs and deferred compensation plans as part of their overall compensation and investment strategy. This is a fairly standard practice among publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include deferred compensation plans and dividend reinvestment options.
• Companies like JPMorgan Chase & Co and Bank of America also offer similar programs for their directors.
• The specific terms and amounts can vary widely based on company size, performance, and individual director agreements.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
• It reflects a director's ongoing investment in the company.

Key Dates