Schultz Robert F. - Sep 29, 2023 Form 4 Insider Report for Midland States Bancorp, Inc. (MSBI)

Role: Director
Signature: /s/Schultz Robert F
Stock symbol: MSBI
Transactions as of: Sep 29, 2023
Transactions value $: $42,707
Form type: 4
Date filed: 10/3/2023, 12:23 PM
Previous filing: Jul 3, 2023
Next filing: Jan 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MSBI	Common Stock						32.1K	Sep 29, 2023	Direct	F1
holding	MSBI	Common Stock						4.26K	Sep 29, 2023	Spouse	F2
holding	MSBI	Common Stock						30.2K	Sep 29, 2023	Red Bird Investors, LLC	F2
holding	MSBI	Common Stock						37.8K	Sep 29, 2023	Summit Investors, LLP	F2
holding	MSBI	Common stock						250K	Sep 29, 2023	J.M. Schultz Investment, LLC	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	Common Share Equivalent	Award	$28.2K	+1.22K	+1.44%	$23.07	86.1K	Sep 29, 2023	Common Stock	1.22K		Direct	F3, F4
transaction	MSBI	Common Share Equivalent	Award	$14.5K	+706	+0.82%	$20.54	86.8K	Sep 29, 2023	Common Stock	706		Direct	F3, F5
holding	MSBI	Restricted Stock Unit						9.15K	Sep 29, 2023	Common Stock	9.15K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	Includes holdings through a self-directed IRA or revocable grantor trust
F2	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
F3	Each common stock equivalent is the economic equivalent of one share of common stock.
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.
F5	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.