Franklin Travis 4

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.