Mike Maddox - Mar 1, 2025 Form 4 Insider Report for FIRST BUSEY CORP /NV/ (BUSE)

Role: President, Director
Signature: /s/ Catherine Alqallaf, attorney-in-fact
Stock symbol: BUSE
Transactions as of: Mar 1, 2025
Transactions value $: $0
Form type: 4
Date filed: 3/4/2025, 03:41 PM
Previous filing: Feb 26, 2025
Next filing: Mar 28, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BUSE	Common Stock	Award	$0	+120K		$0.00	120K	Mar 1, 2025	Direct	F1
transaction	BUSE	Common Stock	Award	$0	+16.3K	+13.54%	$0.00	137K	Mar 1, 2025	Direct	F2
transaction	BUSE	Common Stock	Award	$0	+30.8K	+22.51%	$0.00	167K	Mar 1, 2025	Direct	F3
transaction	BUSE	Series A Non-Cumulative Perpetual Preferred Stock	Award	$0	+50		$0.00	50	Mar 1, 2025	Direct	F4
transaction	BUSE	Common Stock	Award	$0	+4.74K		$0.00	4.74K	Mar 1, 2025	Spouse	F1, F5
transaction	BUSE	Series A Non-Cumulative Perpetual Preferred Stock	Award	$0	+100		$0.00	100	Mar 1, 2025	Spouse	F4, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BUSE	Stock Appreciation Right	Award	$0	+17.3K		$0.00	17.3K	Mar 1, 2025	Common Stock	17.3K	$14.01	Direct	F6
transaction	BUSE	Stock Appreciation Right	Award	$0	+38.1K		$0.00	38.1K	Mar 1, 2025	Common Stock	38.1K	$9.37	Direct	F6
transaction	BUSE	Stock Appreciation Right	Award	$0	+40.1K		$0.00	40.1K	Mar 1, 2025	Common Stock	40.1K	$21.35	Direct	F6
transaction	BUSE	Stock Appreciation Right	Award	$0	+15.3K		$0.00	15.3K	Mar 1, 2025	Common Stock	15.3K	$11.24	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Acquired pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement") entered into on August 26, 2024, between Issuer and CrossFirst Bankshares, Inc. ("CrossFirst"). Pursuant to the Merger Agreement, at the effective time of the merger, CrossFirst merged with and into Issuer with Issuer surviving the merger, and each share of common stock, par value $0.01 per share, of CrossFirst outstanding immediately prior to the effective time of the merger, other than certain excluded shares, was converted into the right to receive (a) 0.6675 shares of common stock, par value $0.001, of Issuer and (b) cash in lieu of fractional shares.
F2	Pursuant to the Merger Agreement, at the effective time of the merger, each CrossFirst restricted stock unit subject to time based vesting conditions (each, a "CrossFirst RSU") was assumed and converted into a restricted stock unit award in respect of Issuer common stock, par value $0.001 (each, an "Issuer RSU"), subject to vesting, repurchase, or other lapse restriction with the same terms and conditions as were applicable under such CrossFirst RSU immediately prior to the effective time of the merger relating to the number of shares of Issuer common stock equal to the product of (A) 0.6675 shares of Issuer common stock, multiplied by (B) the number of shares of CrossFirst common stock subject to the CrossFirst RSUs immediately prior to the effective time of the merger, with any fractional shares rounded to the nearest whole share of Issuer common stock. Each Issuer RSU represents a contingent right to receive one share of Issuer common stock.
F3	Pursuant to the Merger Agreement, at the effective time of the merger, each CrossFirst performance-based restricted stock unit award (each, a "CrossFirst PSU") was assumed and converted into an Issuer RSU, subject to the same terms and conditions (including service-based vesting terms but excluding performance-based vesting terms) as applied to the CrossFirst PSU immediately prior to the effective time of the merger, relating to the number of shares of Issuer common stock equal to the product of (A) 0.6675 shares of Issuer common stock, multiplied by (B)(i) for CrossFirst PSUs granted in 2023, actual performance and (ii) for CrossFirst PSUs granted in 2024, target performance, in each case, with any fractional shares rounded to the nearest whole share of Issuer common stock. Each Issuer RSU represents a contingent right to receive one share of Issuer common stock.
F4	Pursuant to the Merger Agreement, at the effective time of the merger, each issued and outstanding share of Series A Non-Cumulative Perpetual Preferred Stock, par value $0.01, of CrossFirst was converted into the right to receive one share of Series A Non-Cumulative Perpetual Preferred Stock, par value $0.001, of Issuer.
F5	The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
F6	Pursuant to the Merger Agreement, at the effective time of the merger, each CrossFirst stock-settled stock appreciation right ("CrossFirst SAR") outstanding immediately prior to the effective time of the merger was converted into a stock appreciation right in respect of Issuer common stock par value $0.001, relating to the number of shares of Issuer common stock equal to the product of (A) the number of shares of CrossFirst common stock subject to such CrossFirst SAR immediately prior to the closing of the merger, multiplied by (B) 0.6675 shares of common stock, par value $0.001, of Issuer ("Exchange Ratio"), with any fractional shares rounded down to the nearest whole share of Issuer common stock, and at an exercise price per share equal to (i) the exercise price per share of the CrossFirst SAR immediately prior to the effective time of the merger, divided by (ii) the Exchange Ratio, rounded up to the nearest whole cent.