Franklin Travis 4

4 · Midland States Bancorp, Inc. · Filed Apr 2, 2026

AI-generated summary of this filing

Updated Apr 2, 2026

Midland States (MSBI) Director Franklin Travis Receives Award

What Happened

Franklin Travis, a director of Midland States Bancorp (MSBI), acquired a total of 666.393 common share equivalents on 2026-03-31 through awards/allocations under the company's Directors Deferred Compensation Plan. The entries were for 128.518 units at $22.97 (value $2,952) and 537.875 units at $22.31 (value $12,000), totaling about $14,952. These are derivative common share equivalents (not open-market share purchases).

Key Details

Transaction date: 2026-03-31 (Form 4 filed 2026-04-02).
Items acquired:
- 128.518 common share equivalents @ $22.97 = $2,952.
- 537.875 common share equivalents @ $22.31 = $12,000 (reported as dividend reinvestment).
Combined total: 666.393 common share equivalents, ≈ $14,952.
Shares owned after transaction: not specified in the provided excerpt.
Footnotes: F1/F3 — these are common share equivalents under the Directors Deferred Compensation Plan and are the economic equivalent of one share each; F2 — the larger allocation reflects dividend reinvestment and vested on the transaction date.
Filing timeliness: Form filed Apr 2 for Mar 31 transactions; no indication in the provided data that the filing was late.

Context

These are derivative awards (common share equivalents) that "become payable" when the director leaves service; they represent economic exposure to MSBI stock rather than immediate transferable common shares. Dividend-reinvestment credits vested immediately but still pay out upon termination of directorship. Such awards are routine director compensation and do not necessarily indicate an immediate change in trading sentiment.

Form 4

Period: 2026-03-31

Director

Transactions

Award
Common Share Equivalent
[F1][F2][F3]
2026-03-31$22.97/sh+128.518$2,952→ 9,353.7 total
Exercise: $22.65→ Common Stock (128.518 underlying)
Award
Common Share Equivalent
[F1][F3]
2026-03-31$22.31/sh+537.875$12,000→ 9,891.575 total
Exercise: $22.65→ Common Stock (537.875 underlying)

Footnotes (3)

[F1]Represents common share equivalents held pursuant to Directors Deferred Compensation Plan as of the date of this form. Each common share equivalent is the economic equivalent of one share of common stock. Common stock equivalents become payable upon the reporting persons termination of service as a director.
[F2]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.
[F3]Each common stock equivalent is the economic equivalent of one share of common stock.

2 files