Midland States Bancorp

MSBI· Finance· Fiscal year ends in December

CEO pay in FY2025Stock -13.2% in FY2025

Jeffrey G. Ludwig is the CEO of Midland States Bancorp and was paid $1.5M in FY2025 (Dec), up 5%.

Pay$100 in the stock at the end of FY20 → $129

CEO pay is from each Midland States Bancorp proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Executives5

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1Jeffrey G. LudwigPresident and Chief Executive Officer of the Company and Chief Executive Officer of the BankFY2025
2Jeremy A. JamesonExecutive Vice President and Chief Credit Officer of the BankFY2025
3Jeffrey S. MeffordExecutive Vice President of the Company and President of the BankFY2025
4Eric T. LemkeSenior Vice President and Chief Financial Officer of the Company and the BankFY2025
5Daniel E. CaseyExecutive Vice President and Chief Risk Officer of the BankFY2025

Named executives and their total pay, from the Summary Compensation Table of the latest proxy.

Pay

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Midland States Bancorp paid its 5 named executives $5.3M in total in FY2025 (Dec). CEO Jeffrey G. Ludwig was paid $1.5M of that.

Name
Jeffrey G. LudwigPresident and Chief Executive Officer of the Company and Chief Executive Officer of the Bank
Jeremy A. JamesonExecutive Vice President and Chief Credit Officer of the Bank	Not disclosed	Not disclosed
Jeffrey S. MeffordExecutive Vice President of the Company and President of the Bank		Not disclosed
Eric T. LemkeSenior Vice President and Chief Financial Officer of the Company and the Bank
Daniel E. CaseyExecutive Vice President and Chief Risk Officer of the Bank

of each named executive, from the Summary Compensation Table of each proxy.

Peers20

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The FY2025 (Dec) proxy of Midland States Bancorp names 20 peer companies for pay. Among Midland States Bancorp and these peers, CEO pay was 9th highest of 10 and total shareholder return was 5th highest of 10.

9th highest of 10in Midland States Bancorp and its pay peers, FY2025 (Dec) by CEO pay:

$1.5M$4.0M

5th highest of 10in Midland States Bancorp and its pay peers, FY2025 (Dec) by total shareholder return:

$100$215

The comes from the company's proxy. CEO pay and of each company come from its own Pay versus Performance table for the same fiscal year.

Activity

Pay
Midland States Bancorp CEO pay fell 10% to $1.5M. The stock fell 11% in FY2024 (Dec).
DEF 14AJul 1, 2025
Pay
Midland States Bancorp Division head pay rose 13% to $531.9K. The stock fell 11% in FY2024 (Dec).
DEF 14AJul 1, 2025
Pay
Midland States Bancorp CEO pay rose 12% to $1.8M. The stock rose 12% in FY2022 (Dec).
DEF 14AMar 25, 2024

Filings6

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Proxy statement	DEF 14A	Mar 23, 2026	FY2025
Annual report	10-K	Mar 2, 2026	FY2025
Proxy statement	DEF 14A	Jul 1, 2025	FY2024
Annual report	10-K	Jul 1, 2025	FY2024
Proxy statement	DEF 14A	Mar 25, 2024	FY2023
Annual report	10-K	Feb 23, 2024	FY2023

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