Schultz Robert F. - Jun 30, 2022 Form 4 Insider Report for Midland States Bancorp, Inc. (MSBI)

Role: Director
Signature: /s/ Schultz Robert F
Stock symbol: MSBI
Transactions as of: Jun 30, 2022
Transactions value $: $78,283
Form type: 4
Date filed: 7/1/2022, 02:19 PM
Previous filing: Apr 1, 2022
Next filing: Oct 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MSBI	Common Stock						32.1K	Jun 30, 2022	Direct	F1, F2
holding	MSBI	Common Stock						3.54K	Jun 30, 2022	Spouse	F3
holding	MSBI	Common Stock						30.2K	Jun 30, 2022	Red Bird Investors, LLC	F3
holding	MSBI	Common Stock						37.4K	Jun 30, 2022	Summit Investors, LLP	F3
holding	MSBI	Common stock						250K	Jun 30, 2022	J.M. Schultz Investment, LLC	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MSBI	Common Share Equivalent	Award	$23.8K	+939	+1.23%	$25.33	77.5K	Jun 30, 2022	Common Stock	939		Direct	F4, F5
transaction	MSBI	Common Share Equivalent	Award	$14.5K	+603	+0.78%	$24.04	78.1K	Jun 30, 2022	Common Stock	603		Direct	F4, F6
transaction	MSBI	Restricted Stock Unit	Award	$40K	+1.66K	+30.4%	$24.04	7.14K	Jun 30, 2022	Common Stock	1.66K		Direct	F4, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 800 shares not previously reported
F2	Includes holdings through a self-directed IRA or revocable grantor trust
F3	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
F4	Each common stock equivalent is the economic equivalent of one share of common stock.
F5	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.
F6	Represents common share equivalents acquired by the reporting person under the Issuers Directors Deferred Compensation Plan (DDCP) with respect to director fees deferred by the reporting person during the quarter, based upon the closing price of the underlying shares on the last day of the quarter. Each common share equivalent is the economic equivalent of one share of common stock. Common share equivalents received for deferred director fees fully vested on the transaction date listed above and become payable upon termination of service as a director.
F7	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 30, 2023 and vested shares will be delivered to the reporting person based on the terms of the DDCP and the reporting persons distribution elections thereunder.