Jeffrey M. McDonnell - 31 Dec 2025 Form 4 Insider Report for Midland States Bancorp, Inc. (MSBI)

Role: Director
Signature: /s/McDonnell Jeffrey
Issuer symbol: MSBI
Transactions as of: 31 Dec 2025
Net transactions value: +$20,067
Form type: 4
Filing time: 02 Jan 2026, 12:11:49 UTC
Previous filing: 01 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
McDonnell Jeffrey M	Director	1201 NETWORK CENTRE DR., EFFINGHAM	/s/McDonnell Jeffrey	02 Jan 2026	0001672608

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MSBI	Common Stock						24,245	31 Dec 2025	Jeffrey M. McDonnell Revocable Trust UA	F1
holding	MSBI	Common Stock						1,987	31 Dec 2025	Direct

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	MSBI	Common Share Equivalents	Award	$8,567	+530	+3.1%	$16.17	17,847	31 Dec 2025	Common Stock	530		Direct	F2, F3
transaction	MSBI	Common Share Equivalents	Award	$11,500	+543	+3%	$21.17	18,390	31 Dec 2025	Common Stock	543		Direct	F2, F4
holding	MSBI	Restricted Stock Unit						9,455	31 Dec 2025	Common Stock	9,455		Direct	F2

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

Explanation of Responses:

Id	Content
F1	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
F2	Each common stock equivalent is the economic equivalent of one share of common stock.
F3	Represents common share equivalents acquired by the reporting person in the DDCP pursuant to the reinvestment of dividends received during the quarter on common share equivalents held in the DDCP by the reporting person at the time such dividend was paid on the underlying shares. Common share equivalents received for dividend reinvestments fully vested on the transaction date listed above and become payable upon termination of service as a director.
F4	Represents common share equivalents acquired by the reporting person under the Issuers Directors Deferred Compensation Plan (DDCP) with respect to director fees deferred by the reporting person during the quarter, based upon the closing price of the underlying shares on the last day of the quarter. Each common share equivalent is the economic equivalent of one share of common stock. Common share equivalents received for deferred director fees fully vested on the transaction date listed above and become payable upon termination of service as a director.