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

Director Travis Franklin reports acquiring 2,428.256 common share equivalents in Midland States Bancorp through a Directors Deferred Compensation Plan.

Summary

• On July 2, 2024, Travis Franklin, a director of Midland States Bancorp, Inc. (MSBI), filed a Form 4 with the SEC.
• The report details the acquisition of 2,428.256 common share equivalents on June 30, 2024, at a price of $22.65.
• These common share equivalents are held pursuant to the Directors Deferred Compensation Plan and are the economic equivalent of one share of common stock each.
• The common stock equivalents become payable upon the reporting person's termination of service as a director.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of common share equivalents by a director signals confidence in the company's future performance, which can positively influence shareholder sentiment.

Key Dates