[Form 4] Midland States Bancorp, Inc. Insider Trading Activity

Rhea-AI Filing Summary

ResMed Inc. (RMD) has filed a Form 144 in which company insider Michael J. Rider notifies the SEC of his intent to sell up to 66 common shares through Fidelity Brokerage Services on or about 1 July 2025. The proposed transaction is valued at roughly $16,961, based on current market pricing, and represents an immaterial 0.00005 % of the company’s 146.6 million shares outstanding. The shares stem from restricted-stock vesting that occurred on 11 Nov 2022 and were received as compensation. Rider has already sold 105 shares in the preceding three months, generating total gross proceeds of approximately $24,258. The filing contains no operational updates, earnings data, or strategic disclosures and expressly states that the seller is unaware of any material non-public adverse information concerning ResMed.

Insights

Corporate Governance Expert

TL;DR: Routine Form 144; 66-share insider sale is immaterial and unlikely to affect ResMed stock performance.

The notice reflects standard insider-trading compliance. Selling 66 shares valued at <$17 k against a >$30 bn market cap has no quantitative impact on float, liquidity, or control. No red flags such as clustered executive sales, margin loans, or accelerated plans appear. The filing reaffirms that the seller possesses no undisclosed negative information, satisfying Rule 144 and 10b5-1 representations. Overall, this is a procedural disclosure with neutral governance implications.

Portfolio Manager

TL;DR: Negligible portfolio impact; sale equals 0.00005 % of shares outstanding.

From a position-sizing standpoint, 66 shares do not influence supply-demand dynamics or signal a shift in insider sentiment. Previous sales of 105 shares over three months are equally modest. There is no correlation with earnings windows or unusual volume spikes. I categorize the event as non-impactful and would not adjust exposure to RMD based solely on this filing.

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
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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^*

Ramos Richard T

(Last) (First) (Middle)

1201 NETWORK CENTRE DR.

(Street)

EFFINGHAM IL 62401

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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

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

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

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	06/30/2025		A		2,598	A(1)	$17.32	20,103(2)	D
Common Stock								500(3)	I	By Daughter
Common Stock								500(3)	I	By Son

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	(4)	06/30/2025		A		830.712		(4)	(4)	Common Stock	830.712	$17.88(5)	43,753.1426	D
Restricted Stock Unit	(4)							(4)	(4)	Common Stock	4,990		4,990	D

Explanation of Responses:

1. Annual Director Stock Award with immediate vesting schedule.

2. Jointly owned with spouse.

3. 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

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

5. 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/Ramos Richard T	07/01/2025
	/s/Nathan D. Sturycz, attorney-in-fact	07/01/2025
	** 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.
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FAQ

How many ResMed (RMD) shares is Michael J. Rider planning to sell?

The Form 144 covers the proposed sale of 66 common shares.

What is the approximate value of the planned insider sale?

The aggregate market value is about $16,961 based on the filing.

When is the anticipated sale date for the 66 shares?

The shares are expected to be sold on or about July 1, 2025.

How were the shares to be sold originally acquired?

They were obtained through restricted-stock vesting on 11 Nov 2022 as compensation.

What portion of ResMed’s total shares does the sale represent?

Approximately 0.00005 % of the 146,627,399 shares outstanding.

Has the insider sold other ResMed shares recently?

Yes. He sold 64 shares on Apr 1 2025 and 41 shares on Jun 2 2025, totaling 105 shares for roughly $24,258.

Does the filing indicate any undisclosed adverse information about ResMed?

No. The signer affirms that he knows of no material non-public adverse information about the company.