Midland States (MSBI) Director Files Form 4: RSUs Granted, 4,000-Share Sale
Rhea-AI Filing Summary
Gerald Carlson, a director of Midland States Bancorp (MSBI), reported transactions affecting his holdings. The form shows a disposition of 4,000 shares of common stock on 09/30/2025. On the same date he acquired restricted stock units and common share equivalents through the company plans: 875.146 RSU-based common share equivalents at an implicit $17.14 price and 158.4075 common share equivalents at $17.35 received via dividend reinvestment. After these transactions, the filing reports a total beneficial ownership of 9,622.2225 common share equivalents held directly. The entries note that RSUs were granted under the 2019 Long-Term Incentive Plan and deferred under the Directors Deferred Compensation Plan, with payout contingent on vesting and termination terms.
Positive
- Director received restricted stock units under the 2019 Long-Term Incentive Plan, aligning interests with shareholders
- Dividend reinvestment
Negative
- Disposition of 4,000 common shares reported on 09/30/2025, reducing direct shareholdings
Insights
TL;DR: Director reported routine plan-based awards and a 4,000-share disposition; holdings remain in deferred compensation vehicles.
The filing documents plan-driven activity rather than an open-market strategic trade. The director disposed of 4,000 common shares while receiving restricted stock units and common share equivalents under the 2019 Long-Term Incentive Plan and the Directors Deferred Compensation Plan. The acquired common share equivalents include dividend reinvestment amounts that vested immediately. Because the instruments are deferred and payable per plan terms upon termination or distribution elections, control and timing of economic exposure remain governed by plan rules rather than immediate stock sale motivations. This appears to be a routine director compensation and deferral update.
TL;DR: Transaction mix is compensatory and administrative; not clearly material to investors' view of equity structure.
The Form 4 lists a 4,000-share disposition and additions of 875.146 and 158.4075 common share equivalents. The net reported beneficial ownership after transactions is 9,622.2225 shares or equivalents. These entries reflect compensation vesting and dividend reinvestment mechanics rather than market purchases driving a directional stake change. There is no disclosure of a change in voting control or a large, material shift relative to the company’s outstanding shares in this filing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Share Equivalent | 875.146 | $17.14 | $15K |
| Grant/Award | Common Share Equivalent | 158.408 | $17.35 | $3K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents restricted stock units acquired by the reporting person under the 2019 Long-term incentive plan and deferred under the DDCP as of the date of this form. Each restricted stock unit is the contingent right to receive one share of Issuer common stock. Vested shares will be delivered to the reporting person based on the terms of the DDCP and the reporting persons distribution elections thereunder. Represents common share equivalents held pursuant to Directors Deferred Compensation Plan as of the date of this form. Each common share equivalent is the economic equivalent of one share of common stock. Common stock equivalents become payable upon the reporting persons termination of service as a director. 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.
