Midland States director acquires stock equivalents

The director's dividend-reinvestment equivalents vested on September 30, 2026, and become payable upon termination of service.

Rhea-AI Filing Summary

Midland States Bancorp, Inc. (MSBI) director Jerry L. McDaniel acquired 396.145 common share equivalents on September 30, 2026, at a reported price of $33.38 per share. The equivalents came from reinvested dividends received during the quarter on common share equivalents he held in the DDCP; they fully vested on the transaction date and are payable upon termination of director service.

His reported direct position after the acquisition was 38,406.0673 common share equivalents. The filing also lists 2,060 direct restricted stock units tied to common stock.

Insider Trade Summary

Grant/Award: 396.145 shares

Grant/Award 6 txns

Insider McDaniel Jerry L.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Share Equivalent F3, F4	396.145	$33.38	$13K
holding	Restricted Stock Unit F5	--	--	--
holding	Common Stock F1	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock F2	--	--	--
holding	Depositary shares	--	--	--

Holdings After Transaction: Common Share Equivalent — 38,406.0673 contracts (Direct); Restricted Stock Unit — 2,060 contracts (Direct); Common Stock — 2,660 shares (Indirect, By Daughter); Common Stock — 89,283 shares (Indirect, Jerry L McDaniel Revocable Trust); Common Stock — 9,703 shares (Direct); Depositary shares — 20,000 shares (Indirect, Jerry L McDaniel Revocable Trust)

Footnotes (5)

1. F1. 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
2. F2. RSU with Immediate vesting schedule
3. F3. Each common stock equivalent is the economic equivalent of one share of common stock.
4. F4. 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.
5. F5. 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.

Key Figures

Common share equivalents acquired: 396.145 common share equivalents Reported price per share: $33.38 per share Direct common share equivalents following transaction: 38,406.0673 common share equivalents +1 more

4 metrics

Common share equivalents acquired 396.145 common share equivalents September 30, 2026

Reported price per share $33.38 per share Acquisition on September 30, 2026

Direct common share equivalents following transaction 38,406.0673 common share equivalents Following the September 30, 2026 acquisition

Direct restricted stock units 2,060 units Listed on September 30, 2026

Key Terms

common share equivalent, DDCP, restricted stock units, pecuniary interest

4 terms

common share equivalent financial

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

DDCP financial

"in the DDCP pursuant to the reinvestment of dividends"

restricted stock units financial

"restricted stock units acquired by the reporting person"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

pecuniary interest regulatory

"except to the extent of his pecuniary interest therein"

FAQ

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

How many MSBI common share equivalents did director Jerry L. McDaniel acquire?

Jerry L. McDaniel acquired 396.145 common share equivalents at a reported price of $33.38 per share on September 30, 2026. The equivalents came from reinvested dividends received during the quarter on common share equivalents he held in the DDCP.

When do Jerry L. McDaniel's MSBI dividend-reinvestment equivalents vest and become payable?

The 396.145 common share equivalents fully vested on September 30, 2026, and become payable upon termination of his service as a director.

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

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Available on EDGAR 10/01/2026 - 08:57 AM Accepted by SEC EDGAR 10/01/2026 - 08:57 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^*

McDaniel Jerry L.

(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								2,660(1)	I	By Daughter
Common Stock								89,283	I	Jerry L McDaniel Revocable Trust
Common Stock(2)								9,703	D
Depositary shares								20,000	I	Jerry L McDaniel Revocable Trust

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	(3)	09/30/2026		A		396.145		(3)	(3)	Common Stock	396.145	$33.38(4)	38,406.0673	D
Restricted Stock Unit	(5)							(5)	(5)	Common Stock	2,060		2,060	D

Explanation of Responses:

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

2. RSU with Immediate vesting schedule

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

4. 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.

5. 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.

Remarks:

	/s/McDaniel Jerry L	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)