Mike Maddox of First Busey (BUSE) reports PSU vesting and ends insider reporting

Rhea-AI Filing Summary

First Busey Corporation insider Mike Maddox reported multiple equity transactions and a change in reporting status. As President and director, he acquired small amounts of First Busey common stock through the company’s Employee Stock Purchase Plan on October 31, 2025 and December 31, 2025 via dividend reinvestment and plan purchases.

On January 27, 2026, he received 40,614 shares of common stock at no cost from vesting of performance-based restricted stock units and related dividend equivalents in connection with his departure from First Busey Corporation, bringing his directly held common stock to about 252,470.6021 shares. He also reports direct and indirect holdings of preferred stock, depositary shares, and stock appreciation rights, while disclaiming beneficial ownership of securities held by his spouse and stepson. Effective January 27, 2026, he is no longer subject to Section 16 for First Busey equity and will no longer file Forms 4 or 5.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Maddox Mike

(Last) (First) (Middle)

11440 TOMAHAWK CREEK PARKWAY

(Street)

LEAWOOD KS 66211

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST BUSEY CORP /NV/ [ BUSE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/31/2025		A	V	4.1917(1)	A	$23.3596	211,586.4854	D
Common Stock	12/31/2025		A	V	270.1167(2)	A	$19.618	211,856.6021	D
Common Stock	01/27/2026		A		40,614(3)	A	$0	252,470.6021	D
Series A Non-Cumulative Perpetual Preferred Stock								50	D
Common Stock								4,739(4)	I	Spouse
Series A Non-Cumulative Perpetual Preferred Stock								100(4)	I	Spouse
Depositary Shares, 1/40 interest in Series B Preferred Stock(5)								40,280(4)	I	Spouse
Depositary Shares, 1/40 interest in Series B Preferred Stock(5)								460(4)	I	Stepson
Depositary Shares, 1/40 interest in Series B Preferred Stock(5)								460(4)	I	Stepson

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$9.37							03/01/2025	01/24/2028	Common Stock	38,142		38,142	D
Stock Appreciation Right	$11.24							03/01/2025	05/01/2028	Common Stock	15,257		15,257	D
Stock Appreciation Right	$14.01							03/01/2025	06/01/2030	Common Stock	17,292		17,292	D
Stock Appreciation Right	$21.35							03/01/2025	07/26/2033	Common Stock	40,050		40,050	D

Explanation of Responses:

1. Shares were acquired through dividend reinvestment in the First Busey Corporation Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(c) and Rule 16b-3(d).

2. Shares were purchased through the First Busey Corporation Employee Stock Purchase Plan in transactions that were exempt under Rule 16b-3(c).

3. Represents shares acquired upon vesting of performance-based restricted stock unit awards (each, a "PSU") and dividend equivalent shares accrued for such PSUs in connection with the departure of the reporting person from First Busey Corporation.

4. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

5. Each Depositary Share represents a 1/40th interest in a share of the issuer's 8.25% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.001 per share.

Remarks:

Effective January 27, 2026, the reporting person is no longer subject to Section 16 in connection with his transactions in the equity securities of First Busey Corporation and therefore will no longer report any such transactions on Form 4 or Form 5.

	/s/ Carolyn Slattery, attorney-in-fact	01/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Mike Maddox report for First Busey (BUSE)?

Mike Maddox reported acquiring First Busey common stock through the Employee Stock Purchase Plan and from vesting performance-based restricted stock units. These included small dividend reinvestments, plan purchases, and 40,614 shares received at no cost upon his departure from First Busey Corporation.

How many First Busey (BUSE) common shares does Mike Maddox hold after these transactions?

After the reported transactions, Mike Maddox directly holds 252,470.6021 shares of First Busey common stock. This total reflects dividend reinvestment, Employee Stock Purchase Plan acquisitions, and 40,614 shares received upon vesting of performance-based restricted stock units tied to his departure.

What is the nature of the 40,614 First Busey shares granted to Mike Maddox?

The 40,614 First Busey common shares represent performance-based restricted stock units that vested, plus associated dividend equivalent shares. They were delivered at no cost in connection with Mike Maddox’s departure from First Busey Corporation, increasing his directly held common stock position.

How were the smaller First Busey common stock amounts acquired by Mike Maddox?

The smaller share amounts were acquired through First Busey’s Employee Stock Purchase Plan. One transaction reflects dividend reinvestment exempt under Rules 16b-3(c) and 16b-3(d), while another reflects plan purchases exempt under Rule 16b-3(c), both adding modest increments to his holdings.

What indirect holdings related to First Busey does Mike Maddox report?

He reports indirect holdings of First Busey common stock, Series A preferred stock, and Series B preferred depositary shares held by his spouse and stepson. He disclaims beneficial ownership of these securities, stating the report should not be deemed an admission of beneficial ownership for any purpose.

Is Mike Maddox still required to file insider reports for First Busey (BUSE)?

No. The filing states that effective January 27, 2026, Mike Maddox is no longer subject to Section 16 regarding First Busey equity transactions. As a result, he will no longer report such transactions on Form 4 or Form 5 for the company.

What derivative awards tied to First Busey stock does Mike Maddox report holding?

He reports several stock appreciation rights linked to First Busey common stock, each with specified exercise prices and expiration dates. The positions include rights over 38,142, 15,257, 17,292, and 40,050 underlying common shares, all held directly as of the transaction reporting date.