Carlson Gerald Joseph 4

What Happened
Gerald Joseph Carlson, a director of Midland States Bancorp (MSBI), acquired two derivative awards on 2026-03-31: 146.573 restricted stock units (RSUs) at $22.97 each (valued at $3,367) and 672.344 common-share equivalents at $22.31 each (valued at $15,000). These are awards/grants (derivative instruments), not open-market purchases or sales.

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-02 (filed within the typical two-business-day Form 4 window; no late filing indicated).
• Items received:
  • 146.573 RSUs @ $22.97 — $3,367 (footnote F1).
  • 672.344 common-share equivalents @ $22.31 — $15,000 (footnote F2).
• Total reported value: ~$18,367.
• Shares owned after the transaction: not specified in the provided filing summary.
• Notable footnotes:
  • F1: RSUs granted under the 2019 Long-Term Incentive Plan and deferred under the Directors Deferred Compensation Plan (DDCP); vested shares will be delivered per DDCP and the director’s distribution elections.
  • F2: Common-share equivalents from dividend reinvestment; these fully vested on the transaction date and become payable upon termination of service.
  • F3: Describes other common-share equivalents already held in the DDCP (payable upon termination).

Context
These are awards/deferrals (derivative rights), not purchases on the open market. RSUs and common-share equivalents give the holder economic exposure to company stock and typically convert to actual shares or cash per plan rules and payout elections (often upon termination or specified distribution dates). Such awards are routine director compensation and do not by themselves signal a buy/sell decision.