Midland States Bancorp, Inc. 8-K

What Happened
Midland States Bancorp, Inc. (MSBI) announced that Claire A. Stack was appointed Executive Vice President and Chief Financial Officer of the company and its bank subsidiary, effective May 8, 2026. Ms. Stack, age 38, joined MSBI in November 2025 as Corporate Controller and served as Vice President – Chief Accounting Officer and interim Chief Financial Officer beginning in March 2026. She is a Certified Public Accountant with more than 15 years of accounting and finance experience across public bank accounting, SEC reporting, internal controls, audit and regulatory compliance.

Key Details

• Appointment effective date: May 8, 2026.
• Compensation: $350,000 annual base salary; bonus potential equal to 40% of base salary; eligibility for annual equity awards equal to 50% of base salary; one-time restricted stock grant equal to 50% of base salary (subject to Board/Compensation Committee approval).
• Employment terms: Change of Control Agreement previously entered remains in effect; 12-month post-termination non-solicitation restriction.
• Background: Former Corporate Controller at Steelcase, prior roles at CliftonLarsonAllen LLP, Agracel, PwC and KPMG; B.S. in Accounting and Technology Management from Indiana University’s Kelley School of Business.
• Disclosure: Company furnished a press release as Exhibit 99.1 in the 8-K.

Why It Matters
A permanent CFO appointment clarifies financial leadership and oversight for MSBI’s SEC reporting, internal controls and regulatory compliance—areas investors monitor closely. The disclosed compensation and equity package indicate the company’s retention and incentive structure for its chief financial officer, which has modest direct cost implications and ties executive pay to future performance. The existing change-of-control agreement and non-solicitation terms outline post-employment protections and restrictions that may affect executive continuity in certain corporate events.