Midland States director Smith acquires stock-linked units

As of September 30, 2026, the director reported 34,109 common shares and 14,571 restricted stock units held directly.

Rhea-AI Filing Summary

Midland States Bancorp, Inc. director Jeffrey C. Smith acquired 238 common share equivalents at a reported $33.38 per share and 212 common share equivalents at $32.16 per share on September 30, 2026. The 238 equivalents were acquired through reinvestment of dividends received during the quarter on equivalents held in the DDCP; they fully vested that day and become payable upon termination of Smith’s service as a director. As of September 30, 2026, Smith reported direct holdings of 34,109 common shares and 14,571 restricted stock units.

Insider Trade Summary

Grant/Award: 450.053 shares

Grant/Award 4 txns

Insider Smith Jeffrey C.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Share Equivalent F1, F2	238.222	$33.38	$8K
Grant/Award	Common Share Equivalent F1	211.831	$32.16	$7K
holding	Restricted Stock Unit F1	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Share Equivalent — 9,974.8992 contracts (Direct); Restricted Stock Unit — 14,571.306 contracts (Direct); Common Stock — 34,109 shares (Direct)

Footnotes (2)

1. F1. Each common stock equivalent is the economic equivalent of one share of common stock.
2. F2. 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.

Key Figures

Common share equivalents acquired: 238 equivalents Reported transaction price per share: $33.38 per share Common share equivalents acquired: 212 equivalents +3 more

6 metrics

Common share equivalents acquired 238 equivalents September 30, 2026; DDCP dividend reinvestment

Reported transaction price per share $33.38 per share 238 common share equivalents acquired September 30, 2026

Common share equivalents acquired 212 equivalents September 30, 2026

Reported transaction price per share $32.16 per share 212 common share equivalents acquired September 30, 2026

Restricted stock units held directly 14,571 units Reported September 30, 2026

Common shares held directly 34,109 shares Reported September 30, 2026

Key Terms

DDCP, common stock equivalent, Restricted Stock Unit, fully vested

4 terms

DDCP financial

"in the DDCP pursuant to the reinvestment of dividends received during the quarter"

common stock equivalent financial

"Each common stock equivalent is the economic equivalent of one share of common stock."

Restricted Stock Unit financial

"Restricted Stock Unit"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

fully vested financial

"fully vested on the transaction date listed above"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many common share equivalents did MSBI director Jeffrey C. Smith acquire?

Jeffrey C. Smith acquired 238 common share equivalents at a reported $33.38 per share and 212 at $32.16 per share on September 30, 2026. The first acquisition was tied to dividend reinvestment in the DDCP.

What does a common share equivalent mean for MSBI director Jeffrey Smith?

Each common stock equivalent is the economic equivalent of one share of common stock. The reported holdings separately list direct common stock and restricted stock units.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 10/01/2026 - 09:03 AM Accepted by SEC EDGAR 10/01/2026 - 09:02 AM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Smith Jeffrey C.

(Last) (First) (Middle)

1201 NETWORK CENTRE DR.

(Street)

EFFINGHAM ILLINOIS 62401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Midland States Bancorp, Inc. [ MSBI ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2026

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

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

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

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								34,109	D

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
Common Share Equivalent	(1)	09/30/2026		A		238.222		(1)	(1)	Common Stock	238.222	$33.38(2)	9,763.0682	D
Common Share Equivalent	(1)	09/30/2026		A		211.831		(1)	(1)	Common Stock	311.831	$32.16	9,974.8992	D
Restricted Stock Unit	(1)							(1)	(1)	Common Stock	14,571.306		14,571.306	D

Explanation of Responses:

1. Each common stock equivalent is the economic equivalent of one share of common stock.

2. 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.

Remarks:

	/s/Smith Jeffrey C	10/01/2026
	/s/Nathan D. Sturycz, attorney-in-fact	10/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)