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 acquiring additional common share equivalents through dividend reinvestment and the Directors Deferred Compensation Plan (DDCP).

Summary

• On March 28, 2024, Jeffrey C. Smith, a director of Midland States Bancorp, Inc., acquired additional common share equivalents.
• These acquisitions were made through the company's dividend reinvestment program (DDCP) and the Directors Deferred Compensation Plan (DDCP).
• Smith acquired 148.781 common share equivalents at a price of $25.22 through dividend reinvestment.
• An additional 239.057 common share equivalents were acquired at a price of $25.13 through the DDCP.
• Following these transactions, Smith directly owns 32,959 shares of common stock and 2,374.697 common share equivalents through the DDCP.
• Smith also directly owns 10,116.779 Restricted Stock Units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's participation in the DDCP and dividend reinvestment program suggests confidence in the company. However, 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.

Future Outlook

There is no explicit future outlook provided in this document.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors and their investment activities within the company.

Comparison to Industry Standards

• Director compensation and deferred compensation plans are standard practice in the banking industry.
• Dividend reinvestment programs are also common, allowing shareholders to increase their stake in the company.
• Comparable companies such as First Midwest Bancorp (now part of Old National Bancorp) and Wintrust Financial Corporation also have similar insider transaction reporting requirements.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding director's investment activities.

Key Dates