Insider-linked 18,420-share preferred purchase at First Busey (BUSE)
Rhea-AI Filing Summary
FIRST BUSEY CORP (BUSE) insider Form 4 reports open-market purchases of the issuer's Depositary Shares, each representing a 1/40th interest in its 8.25% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. On September 4–5, accounts associated with the president and director Mike Maddox’s spouse and stepson bought a total of 18,420 Depositary Shares at prices around $25.44–$25.5162 per share in multiple trades. The reporting person disclaims beneficial ownership of these securities. The filing also updates direct and indirect holdings in common stock, preferred stock, and stock appreciation rights.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Depositary Shares, 1/40 interest in Series B Preferred Stock | 7,500 | $25.44 | $191K |
| Purchase | Depositary Shares, 1/40 interest in Series B Preferred Stock | 460 | $25.44 | $12K |
| Purchase | Depositary Shares, 1/40 interest in Series B Preferred Stock | 460 | $25.44 | $12K |
| Purchase | Depositary Shares, 1/40 interest in Series B Preferred Stock | 10,000 | $25.5162 | $255K |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Series A Non-Cumulative Perpetual Preferred Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Series A Non-Cumulative Perpetual Preferred Stock | -- | -- | -- |
Footnotes (1)
- 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. 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. The price reported above reflects the weighted average purchase price. The purchase was executed in multiple trades at prices ranging from $25.45 to $25.54, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares purchased at each separate price within the range set forth in this footnote (3) to this Form 4.
FAQ
What insider activity did FIRST BUSEY CORP (BUSE) report in this Form 4?
The Form 4 reports open-market purchases of Depositary Shares linked to Series B preferred stock by accounts associated with Mike Maddox’s spouse and stepson. These transactions increased indirect holdings and were executed over two days in early September at prices around the mid-$25 range.
Who is the reporting person in the FIRST BUSEY (BUSE) Form 4 and what is their role?
The reporting person is Mike Maddox, who serves as both a director and the President of FIRST BUSEY CORP. The Form 4 shows transactions in securities held indirectly through his spouse and stepson, and he formally disclaims beneficial ownership of those particular holdings.
What does it mean that Mike Maddox disclaims beneficial ownership in this FIRST BUSEY (BUSE) filing?
The disclaimer states that Mike Maddox does not admit beneficial ownership of the spouse and stepson-held securities for Section 16 or any other purpose. This language limits how those indirect holdings are legally attributed to him, even though they appear in his Form 4 report.
