Midland States (NASDAQ: MSBI) CEO adds 909 ESPP shares to stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Midland States Bancorp President & CEO Jeffrey G. Ludwig acquired 909 shares of common stock through the company’s Employee Stock Purchase Plan for the calendar quarter, at a price of $19.05 per share based on the ESPP formula.
After this acquisition, he directly holds 400,568.432 common shares and has stock options covering 8,383 shares at an exercise price of $28.59 expiring on November 16, 2026, and 52,291 shares at $28.43 expiring on October 31, 2032. He also has an indirect holding of 11,569 shares through JQ Properties, for which he disclaims beneficial ownership beyond his pecuniary interest. This filing reflects routine compensation-related accumulation rather than an open-market trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Ludwig Jeffrey G.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 909 | $19.05 | $17K |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 400,568.432 shares (Direct);
Option (right to buy) — 8,383 shares (Direct);
Common Stock — 11,569 shares (Indirect, JQ Properties)
Footnotes (1)
- Represents shares acquired by the reporting person through contributions to the Employee Stock Purchase Plan of the Issuer (ESPP). for the calendar quarter. Pursuant to the ESPP, the price used for each quarterly purchase is the lower of 90% of the fair market of the Issuers shares on the first day of the calendar quarter or the closing price of the shares on the last day of the quarter. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose These options vest in four equal annual installments beginning one year after the 11/16/2016 date of grant. These options vest in four equal annual installments beginning one year after the 10/31/2022 date of grant.
Key Figures
ESPP shares acquired: 909 shares
ESPP purchase price: $19.05 per share
Direct common shares after: 400,568.432 shares
+3 more
6 metrics
ESPP shares acquired
909 shares
Common stock acquired on March 31, 2026 via ESPP
ESPP purchase price
$19.05 per share
Price for 909 ESPP shares for the calendar quarter
Direct common shares after
400,568.432 shares
CEO’s direct common stock holdings following the ESPP acquisition
Indirect common shares
11,569 shares
Common stock held through JQ Properties with beneficial ownership disclaimed
Options at $28.59
8,383 underlying shares
Stock options expiring November 16, 2026, direct holding
Options at $28.43
52,291 underlying shares
Stock options expiring October 31, 2032, direct holding
Key Terms
Employee Stock Purchase Plan, pecuniary interest, beneficial ownership, Option (right to buy)
4 terms
Employee Stock Purchase Plan financial
"Represents shares acquired by the reporting person through contributions to the Employee Stock Purchase Plan of the Issuer"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
pecuniary interest financial
"disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein"
beneficial ownership financial
"shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Option (right to buy) financial
"These options vest in four equal annual installments beginning one year after the 11/16/2016 date of grant."
FAQ
What did Midland States Bancorp (MSBI) CEO Jeffrey G. Ludwig acquire in this Form 4?
Jeffrey G. Ludwig acquired 909 shares of Midland States Bancorp common stock through the Employee Stock Purchase Plan. The shares were purchased for the calendar quarter at $19.05 per share, following the ESPP pricing formula tied to quarterly market prices.
Are there any stock options reported for the Midland States Bancorp (MSBI) CEO?
Yes. The Form 4 shows options on 8,383 shares with a $28.59 exercise price expiring November 16, 2026, and options on 52,291 shares at $28.43 expiring October 31, 2032. These options vest in four equal annual installments starting one year after their grant dates.
Was this Midland States Bancorp (MSBI) CEO transaction an open-market stock purchase?
No. The 909 shares were acquired under the Employee Stock Purchase Plan as a compensation-related grant or award. The ESPP uses the lower of 90% of the first-day quarter price or the closing price on the last day, rather than an ordinary open-market buy.
Midland States