Form 4: Midland States Bancorp Officer Reports Stock Transactions

Sentiment:

Insider Transaction Report 10 November 2025 11:43 AM

📋All filings for Midland States Bancorp, INC

Jeffrey S. Mefford, President of Midland States Bank, reported the disposition of common stock shares for tax withholding purposes.

Summary

Jeffrey S. Mefford, President of Midland States Bank and an officer of Midland States Bancorp, Inc. (MSBI), reported two dispositions of common stock.
On November 6, 2025, 954 shares of common stock were disposed of at a price of $15.97 per share.
On November 7, 2025, 894 shares of common stock were disposed of at a price of $16.01 per share.
These transactions were identified by Transaction Code 'F', indicating they were for the payment of an exercise price or tax liability.
Following these transactions, Mefford beneficially owns 77,211.47 shares of common stock.
Mefford also holds options to buy 29,133 shares of common stock at an exercise price of $28.43, which vest in four equal annual installments beginning one year after the October 31, 2022 grant date and expire on October 31, 2032.
Additionally, Mefford holds options to buy 5,341 shares of common stock at an exercise price of $28.59, which vest in four equal annual installments beginning one year after the November 16, 2016 grant date and expire on November 16, 2026.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions for tax withholding purposes, which are neutral in sentiment and do not indicate any significant positive or negative developments for the company or its stock price.

Positives

The transactions are routine and related to tax withholding, indicating normal compensation processes for an executive.

Negatives

No specific negative aspects are indicated by these routine tax-related dispositions.

Risks

No specific risks are mentioned in this Form 4 filing.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Management Comments

No notable direct quotes or paraphrased statements from company management are included in this Form 4 filing, beyond the reporting of transactions.

Industry Context

This Form 4 filing reports routine insider transactions related to tax withholding, which is a common occurrence for executives receiving equity compensation. It does not provide broader insights into industry trends or competitive positioning for Midland States Bancorp, Inc.

Comparison to Industry Standards

This filing details routine insider stock transactions for tax purposes, which are standard practices across publicly traded companies. There are no specific comparable companies, projects, or results mentioned that would allow for a detailed assessment against global benchmarks.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Power of Attorney Grant	Jeffrey S. Mefford granted power of attorney to Nathan D. Sturycz, Stephanie Gurgel, Summer Moorman, and their designees to prepare, execute, and submit Section 16 filings (Forms 3, 4, 5) and Form 144 on his behalf.	08/05/2025	Streamlines the process for Mefford to comply with SEC reporting requirements for insider transactions.

Stakeholder Impact

Shareholders: Minimal direct impact as these are routine tax-related dispositions by an insider, not indicative of a change in investment thesis.
Employees: No direct impact.
Customers: No direct impact.
Suppliers: No direct impact.
Creditors: No direct impact.

Next Steps

No specific future actions or milestones are mentioned in this routine insider transaction report.

Key Dates

Date	Description
11/16/2016	Grant date for options vesting annually from one year after this date.
11/16/2017	Start of four equal annual installments for options granted on 11/16/2016.
10/31/2022	Grant date for options vesting annually from one year after this date.
10/31/2023	Start of four equal annual installments for options granted on 10/31/2022.
08/05/2025	Date Power of Attorney was executed by Jeff Mefford.
11/06/2025	Date of disposition of 954 shares of common stock.
11/07/2025	Date of disposition of 894 shares of common stock.
11/10/2025	Signature date of the reporting person and attorney-in-fact for the Form 4 filing.
11/16/2026	Expiration date for options granted on 11/16/2016.
10/31/2032	Expiration date for options granted on 10/31/2022.

Recommendation

hold

This Form 4 filing details routine insider stock dispositions for tax withholding purposes, which are common and expected events for executives receiving equity compensation. It does not provide new information that would alter the fundamental investment thesis for Midland States Bancorp, Inc. Therefore, a 'hold' recommendation is appropriate as there's no new catalyst for a change in position based solely on this filing.

Keywords

Midland States Bancorp, MSBI, Jeffrey S. Mefford, stock transaction, Form 4, insider trading, beneficial ownership, stock options, tax withholding

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