Midland States (MSBI) Director Richard T. Ramos Receives Award

What Happened Richard T. Ramos, a director of Midland States Bancorp (MSBI), was granted/acquired 513.582 common-share equivalents on 2026-09-30 at an attributable value of $33.38 each, for a total of $17,143. The transaction is reported as a derivative award (code A) rather than an open-market purchase of common stock.

Key Details

• Transaction date and terms: 2026-09-30 — 513.582 common-share equivalents @ $33.38 each; total value $17,143. (Derivative acquisition; code A)
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: Holdings are jointly owned with spouse.
  • F2: Each common-share equivalent is the economic equivalent of one share of common stock.
  • F3: These equivalents were received in the Director Deferred Compensation Plan (DDCP) via reinvested dividends; they fully vested on the transaction date and become payable upon termination of director service.
• Filing/timeliness: Form 4 was filed 2026-10-01 for the 2026-09-30 transaction; no late filing flag indicated.

Context This was a dividend-reinvestment acquisition of common-share equivalents under the DDCP, not an open-market purchase of shares. Such derivative awards represent economic exposure to the stock and are payable later (per plan rules) rather than delivering actual shares immediately. These transactions are typically routine compensation/deferral activity rather than directional insider trading.