Form 4: Midland States Bancorp Executive Exercises Options and Disposes of Shares
SEC Form 4 Filing
Jeffrey S. Mefford, President of Midland States Bank, exercised stock options and disposed of shares of Midland States Bancorp, Inc. on June 12, 2024.
Summary
- On June 12, 2024, Jeffrey S. Mefford, President of Midland States Bank, exercised options to acquire 2,961 shares of Midland States Bancorp, Inc. common stock at a price of $18 per share.
- Following the exercise of these options, Mefford disposed of 2,551 shares at a price of $22.41 per share to cover tax obligations.
- After these transactions, Mefford directly owns 46,417.47 shares of Midland States Bancorp, Inc. common stock.
- Mefford also holds options to purchase an additional 53,061 shares at prices ranging from $21 to $28.59, with expiration dates extending to October 31, 2032.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's future performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings for signals about management's view of the company's prospects.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in the financial industry.
- Comparable companies also have executives who exercise stock options and sell shares periodically.
- The frequency and size of these transactions are generally in line with industry norms for executives at similar-sized financial institutions.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership.
- The impact on employees, customers, suppliers, and creditors is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 2014-12-02 | Date of grant for options exercisable for 7,885 common stock shares at $21, vesting in four equal annual installments beginning one year after this date. |
| 2015-11-03 | Date of grant for options exercisable for 10,702 common stock shares at $23, vesting in four equal annual installments beginning one year after this date. |
| 2016-02-02 | Date of execution for Power of Attorney. |
| 2016-11-16 | Date of grant for options exercisable for 5,341 common stock shares at $28.59, vesting in four equal annual installments beginning one year after this date. |
| 2017-12-31 | Options vested on this date. |
| 2022-10-31 | Date of grant for options exercisable for 29,133 common stock shares at $28.43, vesting in four equal annual installments beginning one year after this date. |
| 2024-06-12 | Date of transaction: Exercise of stock options and disposal of shares. |
| 2024-06-13 | Date of signature for the Form 4 filing. |
| 2025-11-03 | Expiration date for options exercisable for 10,702 common stock shares at $23. |
| 2026-11-16 | Expiration date for options exercisable for 5,341 common stock shares at $28.59. |
| 2032-10-31 | Expiration date for options exercisable for 29,133 common stock shares at $28.43. |
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