Form 4: Midland States Bancorp Director Travis Franklin Reports Acquisition and Disposal of Common Share Equivalents

Director Travis Franklin reports transactions involving common share equivalents in Midland States Bancorp's Directors Deferred Compensation Plan.

Summary

• On March 31, 2025, Travis Franklin, a director of Midland States Bancorp, Inc., reported acquiring and disposing of common share equivalents.
• Franklin acquired 56.554 common share equivalents at $19.33 and 700.935 common share equivalents at $17.12.
• He also disposed of 3,582.924 common share equivalents at $22.65 and 4,283.859 common share equivalents at $22.65.
• These transactions occurred within the context of the Directors Deferred Compensation Plan (DDCP).
• Franklin now beneficially owns 3,582.924 common share equivalents.
• The common share equivalents become payable upon the reporting person's termination of service as a director.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, and the transactions appear routine. Therefore, the sentiment is neutral.

Future Outlook

The common share equivalents become payable upon the reporting person's termination of service as a director.

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.

Comparison to Industry Standards

• Director Deferred Compensation Plans (DDCP) are a common practice among publicly traded companies, including regional banks like Midland States Bancorp.
• Comparable companies such as First Midwest Bancorp (now part of Old National Bancorp) and Wintrust Financial Corporation also have similar deferred compensation plans for their directors.
• The reporting requirements under Section 16 of the Securities Exchange Act are standard across all publicly traded companies in the United States, ensuring transparency in insider trading activities.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they relate to deferred compensation for a director.
• The disclosure provides transparency to shareholders regarding insider transactions.

Key Dates

Keywords

Form 4, Midland States Bancorp, Director, Travis Franklin, Common Share Equivalents, DDCP, Directors Deferred Compensation Plan, Beneficial Ownership, Section 16