Midland States CEO exercises options, sells shares
On July 28, 2026, Midland States Bancorp President & CEO Jeffrey G. Ludwig exercised 8,383 stock options at $28.59 per share to receive the same number of common shares, then sold 8,383 shares at $34.0001 per share.
Rhea-AI Filing Summary
On July 28, 2026, Midland States Bancorp President & CEO Jeffrey G. Ludwig exercised 8,383 stock options at $28.59 per share to receive the same number of common shares, then sold 8,383 shares at $34.0001 per share. He retains options covering 52,291 shares at an exercise price of $28.43 expiring October 31, 2032. An additional 11,569 shares are held indirectly through JQ Properties, with beneficial ownership disclaimed except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 8,383 shares ($45K approx. pre-tax spread)
Exercise and Sale
5 txns
Insider
Ludwig Jeffrey G.
Role
President & CEO
Sold
8,383 shs ($285K)
Approx. gross sale proceeds
$285K
Approx. exercise cost
$240K
Approx. pre-tax spread
$45K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Option (right to buy) F2 | 8,383 | $0.00 | $0.00 |
| Exercise | Common Stock | 8,383 | $28.59 | $240K |
| Sale | Common Stock | 8,383 | $34.0001 | $285K |
| holding | Option (right to buy) F3 | -- | -- | -- |
| holding | Common Stock F1 | -- | -- | -- |
Holdings After Transaction:
Option (right to buy) — 52,291 contracts (Direct);
Common Stock — 400,971.432 shares (Direct);
Common Stock — 11,569 shares (Indirect, JQ Properties)
Footnotes (3)
- 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
- F2. These options vest in four equal annual installments beginning one year after the 11/16/2016 date of grant.
- F3. These options vest in four equal annual installments beginning one year after the 10/31/2022 date of grant.
Key Figures
Options exercised: 8,383 shares
Option exercise price: $28.59 per share
Shares sold: 8,383 shares
+3 more
6 metrics
Options exercised
8,383 shares
Stock options exercised on July 28, 2026 at $28.59 per share
Option exercise price
$28.59 per share
Exercise price for 8,383 options converted into common stock
Shares sold
8,383 shares
Common shares sold on July 28, 2026 at $34.0001 per share
Sale price
$34.0001 per share
Per-share price for the 8,383 common shares sold
Remaining option underlying shares
52,291 shares
Underlying common shares for options at $28.43 expiring October 31, 2032
Indirectly held common shares
11,569 shares
Common stock held indirectly through JQ Properties with beneficial ownership disclaimed except for pecuniary interest
Key Terms
Option (right to buy), derivative security, pecuniary interest, indirect ownership, +1 more
5 terms
Option (right to buy) financial
"Reported as security title 'Option (right to buy)' over common stock"
derivative security financial
"Transaction code M described as exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
pecuniary interest financial
"Disclaims beneficial ownership except to the extent of his pecuniary interest"
indirect ownership financial
"Shares marked as indirect ownership through JQ Properties"
Section 16 regulatory
"Not deemed an admission of beneficial ownership for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Midland States Bancorp (MSBI) CEO Jeffrey G. Ludwig report?
Jeffrey G. Ludwig reported exercising 8,383 stock options at $28.59 per share, acquiring 8,383 common shares, then selling 8,383 shares at $34.0001 per share on July 28, 2026. He also retains options over 52,291 underlying shares.
How many stock options does the Midland States Bancorp (MSBI) CEO still hold?
After the reported transactions, Jeffrey G. Ludwig continues to hold options over 52,291 underlying shares of common stock. These options carry an exercise price of $28.43 per share and have an expiration date of October 31, 2032.
Were Jeffrey G. Ludwig’s Midland States Bancorp (MSBI) trades under a Rule 10b5-1 plan?
The disclosure indicates the Rule 10b5-1 checkbox was not marked, so these July 28, 2026 transactions were not reported as made under a Rule 10b5-1 trading plan. No pre-arranged plan status is identified in the provided data.
AI-generated analysis. How Rhea-AI works. Not financial advice.
