Form 4: Midland States Bancorp SVP Douglas J. Tucker Reports Stock Disposals
SEC Form 4 Filing
Douglas J. Tucker, SVP Corporate Counsel at Midland States Bancorp, reported the disposal of common stock due to tax withholding obligations.
Summary
- Douglas J. Tucker, SVP Corporate Counsel at Midland States Bancorp, filed a Form 4 detailing changes in beneficial ownership.
- On October 31, 2024, Tucker disposed of 245 shares of common stock at $24.81 per share.
- On November 1, 2024, Tucker disposed of 456 shares of common stock at $24.77 per share.
- These disposals were related to tax obligations.
- Following these transactions, Tucker directly owns 32,940 shares of common stock.
- Tucker also indirectly owns 4,300 Series A Preferred Depositary Shares through the Douglas J. Tucker Revocable Trust dated 8/16/21.
- Tucker holds options to buy 5,405 shares at $28.59, vesting in annual installments from 11/16/2016, and options to buy 18,924 shares at $28.43, vesting in annual installments from 10/31/2022.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an insider. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
Comparison to Industry Standards
- Form 4 filings are a common occurrence across publicly traded companies, including peers of Midland States Bancorp.
- Similar filings are regularly made by executives at regional banks like First Midwest Bancorp and Old National Bancorp, reflecting routine stock transactions and option exercises.
- The reported transactions are typical for executives managing their personal investment portfolios and complying with tax obligations.
Stakeholder Impact
- The stock disposals are unlikely to have a significant impact on shareholders, as they are related to tax obligations and represent a small percentage of the total outstanding shares.
- The transactions do not directly affect employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2016-02-02 | Date of Power of Attorney execution. |
| 2016-11-16 | Start date for vesting of options to buy 5,405 shares. |
| 2021-08-16 | Date of Douglas J. Tucker Revocable Trust. |
| 2022-10-31 | Start date for vesting of options to buy 18,924 shares. |
| 2024-10-31 | Date of disposal of 245 shares of common stock. |
| 2024-11-01 | Date of disposal of 456 shares of common stock. |
| 2024-11-04 | Date of Form 4 signature. |
| 2026-11-16 | Expiration date for options to buy 5,405 shares. |
| 2032-10-31 | Expiration date for options to buy 18,924 shares. |
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