Midland States (MSBI) Form 4: McDaniel Adds 693.45 Share Equivalents, 2,060 RSUs
Rhea-AI Filing Summary
Jerry L. McDaniel, a director of Midland States Bancorp, Inc. (MSBI), reported changes in beneficial ownership on 09/30/2025. The filing discloses dividend reinvestment that yielded 693.4525 common share equivalents at an indicated per-share equivalent value of $17.35, increasing the reported common share equivalents to 36,230.9313 (direct). The report also shows 2,060 restricted stock units held directly and immediately vested RSUs noted in the explanations. Non-derivative holdings include multiple indirect positions (for family entities and a revocable trust) and a direct disposition of 8,258 shares. The reporting person signed the form on 10/01/2025.
Positive
- Dividend reinvestment increased the reporting person's common share equivalents by 693.4525
- Restricted stock units of 2,060 are recorded and noted as vested or with immediate vesting in explanations
- Timely and properly signed filing (signed 10/01/2025)
Negative
- None.
Insights
TL;DR: Routine director activity—dividend reinvestment and vested RSUs slightly increase direct holdings.
This Form 4 documents standard, non-disruptive changes: dividend reinvestment produced 693.4525 common share equivalents at an indicated $17.35 equivalent price and restricted stock units totaling 2,060 are recorded as direct holdings. Holdings are a mix of indirect family/trust positions and direct ownership; no large open-market purchases or sales are reported. For investors, this is a routine disclosure of compensation and dividend reinvestment mechanics rather than a signal of material corporate change.
TL;DR: Disclosure aligns with expected director compensation and deferred plan mechanics; no governance red flags.
The filing includes a standard disclaimer of beneficial ownership for certain indirect holdings and documents RSU vesting and dividend reinvestment under the DDCP (deferred directors’ compensation plan). The mix of direct and indirect holdings (family LLC, trust, children) is typical for long-tenured insiders. Signatures indicate timely filing. There are no indications of unusual transactions or immediate disposition that would raise governance concerns.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Share Equivalent | 693.453 | $17.35 | $12K |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Depositary shares | -- | -- | -- |
Footnotes (1)
- The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose RSU with Immediate vesting schedule Each common stock equivalent is the economic equivalent of one share of common stock. Represents common share equivalents acquired by the reporting person in the DDCP pursuant to the reinvestment of dividends received during the quarter on common share equivalents held in the DDCP by the reporting person at the time such dividend was paid on the underlying shares. Common share equivalents received for dividend reinvestments fully vested on the transaction date listed above and become payable upon termination of service as a director. Represents restricted stock units acquired by the reports person under the 2019 Long-Term Incentive Plan and deferred under the DDCP on the grant date. Each restricted stock unit is the contingent right to receive one share of Issuer common stock. Restricted stock units will fully vest on March 31, 2020 and vested shares will be delivered to the reporting person based on the terms of the DDCP and the reporting persons distribution elections thereunder.
