Midland States Bancorp (NASDAQ: MSBI) CRO acquires 421 ESPP shares

Rhea-AI Filing Summary

Midland States Bancorp, Inc. Chief Risk Officer and financial officer Daniel Edward Casey reported acquiring 421 shares of common stock through the company’s Employee Stock Purchase Plan for a calendar quarter. The shares were purchased at $20.56 each, bringing his directly held stake to 28,471 shares.

Under the ESPP, the quarterly purchase price is the lower of 90% of the fair market value on the first day of the quarter or the closing price on the last day, making this a routine compensation-related acquisition rather than an open-market trade.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Casey Daniel Edward

Role CROF

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	421	$20.56	$9K

Holdings After Transaction: Common Stock — 28,471 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares acquired: 421 shares Purchase price: $20.56 per share Post-transaction holdings: 28,471 shares +1 more

4 metrics

Shares acquired 421 shares Common stock acquired through ESPP on 2026-06-30

Purchase price $20.56 per share ESPP acquisition price for the calendar quarter

Post-transaction holdings 28,471 shares Directly held common stock after ESPP purchase

Transaction type Grant/award acquisition Form 4 code A, non-derivative common stock

Key Terms

Employee Stock Purchase Plan, ESPP, fair market, closing price

4 terms

Employee Stock Purchase Plan financial

"Represents shares acquired by the reporting person through contributions to the Employee Stock Purchase Plan of the Issuer (ESPP)."

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

ESPP financial

"Represents shares acquired by the reporting person through contributions to the Employee Stock Purchase Plan of the Issuer (ESPP)."

An Employee Stock Purchase Plan (ESPP) is a company program that lets employees buy the company’s shares at a reduced price, usually by setting aside a small portion of their pay over time. It matters to investors because it encourages employees to own part of the business—like giving staff a discounted membership— which can boost commitment and performance, while also potentially increasing the number of shares available and affecting shareholder value.

fair market financial

"the price used for each quarterly purchase is the lower of 90% of the fair market of the Issuers shares on the first day of the calendar quarter"

closing price financial

"or the closing price of the shares on the last day of the quarter."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 09:36 AM Accepted by SEC EDGAR 07/02/2026 - 09:36 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^*

Casey Daniel Edward

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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	06/30/2026		A		421	A	$20.56(1)	28,471	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

Explanation of Responses:

1. Represents shares acquired by the reporting person through contributions to the Employee Stock Purchase Plan of the Issuer (ESPP). for the calendar quarter. Pursuant to the ESPP, the price used for each quarterly purchase is the lower of 90% of the fair market of the Issuers shares on the first day of the calendar quarter or the closing price of the shares on the last day of the quarter.

Remarks:

	/s/Daniel E Casey	07/02/2026
	/s/Nathan D. Sturycz, attorney-in-fact	07/02/2026
	** 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)

FAQ

What insider transaction did MSBI officer Daniel Edward Casey report?

Daniel Edward Casey reported acquiring 421 shares of Midland States Bancorp common stock. The shares were obtained through the company’s Employee Stock Purchase Plan at $20.56 per share, increasing his directly owned position to 28,471 shares following the transaction, according to the Form 4 filing.

At what price were the MSBI shares acquired in the reported Form 4?

The reported Midland States Bancorp shares were acquired at $20.56 per share. This price was determined under the Employee Stock Purchase Plan’s formula, which uses the lower of 90% of the fair market value at the quarter’s start or the closing price at quarter end.

How many Midland States Bancorp shares does Daniel Edward Casey hold after this transaction?

After this transaction, Daniel Edward Casey directly holds 28,471 shares of Midland States Bancorp common stock. This total includes the 421 shares acquired through the Employee Stock Purchase Plan during the relevant calendar quarter, as disclosed in the Form 4 insider report.

Was the MSBI insider transaction a market purchase or a plan acquisition?

The MSBI insider transaction was a plan acquisition, not an open-market purchase. The 421 shares were obtained through contributions to Midland States Bancorp’s Employee Stock Purchase Plan, which regularly buys shares for participants based on a preset pricing formula each calendar quarter.

How does the Midland States Bancorp ESPP determine the purchase price for shares?

The Midland States Bancorp Employee Stock Purchase Plan sets the quarterly purchase price as the lower of 90% of the fair market value on the first day of the quarter or the closing price on the last day, providing participating employees a discount relative to market levels.