Jeffrey G. Ludwig, President and CEO of Midland States Bancorp, Inc., filed a Form 4 on November 2, 2026, reporting two transactions in the company's common stock dated October 31 and November 2, 2026.

Key Highlights

  • Disposal: Ludwig disposed of 677 shares of common stock on October 31, 2026, at $32.81 per share via transaction code F (tax withholding).
  • Acquisition: Ludwig acquired 5,140 shares of common stock on November 2, 2026, also at $32.81 per share, via transaction code A.
  • Direct holdings after transactions: Ludwig directly owned 405,434.432 shares of common stock following the reported transactions.
  • Indirect holdings: Ludwig holds 11,569 shares indirectly through JQ Properties, with a disclaimer of beneficial ownership beyond his pecuniary interest.
  • Options held: Ludwig holds options to buy 16,800 shares at $23.00 and 52,291 shares at $28.43, both directly owned.
  • Issuer: Midland States Bancorp, Inc., traded on NASDAQ:MSBI.

Ludwig's October and November 2026 Common Stock Transactions at Midland States Bancorp

According to the Form 4 filed with the SEC on November 2, 2026, Jeffrey G. Ludwig, who serves as both a Director and President and CEO of Midland States Bancorp, Inc. (NASDAQ:MSBI), reported two transactions in the company's common stock. On October 31, 2026, Ludwig disposed of 677 shares at a price of $32.81 per share under transaction code F, which typically represents shares withheld for tax purposes. Following that transaction, his direct beneficial ownership stood at 400,294.432 shares.

On November 2, 2026, Ludwig acquired 5,140 shares at $32.81 per share under transaction code A, bringing his total direct beneficial ownership to 405,434.432 shares, as reported in the filing. In addition to his direct holdings, the filing discloses that Ludwig indirectly holds 11,569 shares through an entity identified as JQ Properties. The filing notes that Ludwig "disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein."

The filing also lists two option positions held directly by Ludwig. The first is an option to purchase 16,800 shares of common stock at an exercise price of $23.00, with options vesting in four equal annual installments beginning one year after the November 3, 2015 grant date. The second is an option to purchase 52,291 shares at an exercise price of $28.43, vesting in four equal annual installments beginning one year after the October 31, 2022 grant date. Both option positions remain unchanged at 16,800 and 52,291 shares, respectively, following the reported transactions.

What Was Disclosed

Jeffrey G. Ludwig, President and CEO of Midland States Bancorp, reported the disposal of 677 shares and acquisition of 5,140 shares of common stock, both at $32.81, resulting in direct ownership of 405,434.432 shares, plus indirect holdings of 11,569 shares through JQ Properties.