Mefford Jeffrey S. - 28 Apr 2023 Form 4 Insider Report for Midland States Bancorp, Inc. (MSBI)

Role
President
Signature
/s/Mefford Jeffrey S
Issuer symbol
MSBI
Transactions as of
28 Apr 2023
Net transactions value
-$3,543
Form type
4
Filing time
01 May 2023, 09:40:45 UTC
Previous filing
31 Mar 2023
Next filing
02 Nov 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSBI Common Stock Options Exercise $28,800 +1,600 +5.2% $18.00 32,422 28 Apr 2023 Direct F1
transaction MSBI Common Stock Sale $32,343 -1,600 -4.9% $20.21 30,822 28 Apr 2023 Direct F1, F2

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 Option (right to buy) Options Exercise $0 -1,600 -35% $0.000000 2,961 28 Apr 2023 Common Stock 1,600 $18.00 Direct F1, F3
holding MSBI Option (right to buy) 10,702 28 Apr 2023 Common Stock 10,702 $23.00 Direct F4
holding MSBI Option (right to buy) 7,885 28 Apr 2023 Common Stock 7,885 $21.00 Direct F5
holding MSBI Option (right to buy) 5,341 28 Apr 2023 Common Stock 5,341 $28.59 Direct F6
holding MSBI Option (right to buy) 29,133 28 Apr 2023 Common Stock 29,133 $28.43 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 05/23/2022
F2 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $19.79 - $20.705 inclusive. The reporting person undertakes to provide to Midland States Bancorp, Inc., any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the ranges set forth in this footnote.
F3 Options vested on 12/31/2017.
F4 These options vest in four equal annual installments beginning one year after the 11/03/2015 date of grant.
F5 These options vest in four equal annual installments beginning one year after the 12/02/2014 date of grant.
F6 These options vest in four equal annual installments beginning one year after the 11/16/2016 date of grant.
F7 These options vest in four equal annual installments beginning one year after the 10/31/2022 date of grant.