Midland States Bancorp, Inc.
US ˙ NasdaqGS ˙ US5977421057

Introduction

This page provides a comprehensive analysis of the known insider trading history of Schultz Robert F.. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

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Companies with Reported Insider Positions

The SEC filings indicate Schultz Robert F. has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:MSBI / Midland States Bancorp, Inc. Director 34,715
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Schultz Robert F.. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases MSBI / Midland States Bancorp, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in MSBI / Midland States Bancorp, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2023-03-14 MSBI Schultz Robert F. 674 23.5500 674 23.5500 15,873 288 28.2900 3,195 20.13
2023-03-10 MSBI Schultz Robert F. 45 23.5500 45 23.5500 1,060
2023-03-10 MSBI Schultz Robert F. 476 23.4100 476 23.4100 11,143
2018-12-07 MSBI Schultz Robert F. 33 23.4000 33 23.4000 772
2018-05-29 MSBI Schultz Robert F. 23 32.9334 23 32.9334 767
2018-05-29 MSBI Schultz Robert F. 246 32.9334 246 32.9334 8,091
2018-03-13 MSBI Schultz Robert F. 24 32.3000 24 32.3000 775
2018-03-13 MSBI Schultz Robert F. 249 32.2787 249 32.2787 8,037
2017-08-15 MSBI Schultz Robert F. 340 30.9130 340 30.9130 10,510
2017-08-14 MSBI Schultz Robert F. 350 30.5256 350 30.5256 10,684
2017-08-10 MSBI Schultz Robert F. 337 29.7104 337 29.7104 10,012
2017-08-09 MSBI Schultz Robert F. 328 30.3850 328 30.3850 9,966

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

MSBI / Midland States Bancorp, Inc. Insider Trades
Insider Sales MSBI / Midland States Bancorp, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in MSBI / Midland States Bancorp, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2024-11-06 MSBI Schultz Robert F. 4,262 27.0000 4,262 27.0000 115,082 159 15.1400 -50,554 -43.93
2017-11-20 MSBI Schultz Robert F. 2,000 31.1697 2,000 31.1697 62,339

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

MSBI / Midland States Bancorp, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Schultz Robert F. as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2025-07-01 2025-06-30 4 MSBI Midland States Bancorp, Inc.
Common Stock 		A - Award 2,598 34,715 8.09 17.32 44,997 601,264
2024-11-08 2024-11-06 4 MSBI Midland States Bancorp, Inc.
Common Stock 		S - Sale -4,262 0 -100.00 27.00 -115,082
2023-03-14 2023-03-14 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 674 4,262 18.78 23.55 15,873 100,377
2023-03-13 2023-03-10 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 476 37,846 1.27 23.41 11,143 885,968
2023-03-13 2023-03-10 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 45 3,588 1.27 23.55 1,060 84,504
2022-04-01 2022-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 385 76,538 0.50 28.86 11,099 2,208,881
2022-04-01 2022-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 791 76,153 1.05 29.64 23,442 2,257,181
2022-01-04 2021-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 448 75,362 0.60 24.79 11,099 1,868,232
2022-01-04 2021-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 890 74,915 1.20 25.00 22,260 1,872,865
2021-10-01 2021-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 449 74,024 0.61 24.73 11,099 1,830,619
2021-10-01 2021-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 861 73,575 1.18 25.43 21,893 1,871,023
2021-07-01 2021-06-30 4 MSBI Midland States Bancorp, Inc.
Restricted Stock Unit 		A - Award 1,674 5,473 44.06
2021-07-01 2021-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,243 72,715 1.74 26.27 32,654 1,910,210
2021-07-01 2021-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 740 71,472 1.05 28.21 20,869 2,016,211
2021-04-01 2021-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 987 70,732 1.42 20.75 20,480 1,467,684
2021-04-01 2021-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 400 69,745 0.58 27.74 11,099 1,934,719
2021-01-05 2020-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,072 69,345 1.57 17.87 19,156 1,239,189
2021-01-05 2020-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 463 68,273 0.68 17.87 8,269 1,220,033
2020-10-02 2020-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,447 67,810 2.18 12.85 18,596 871,358
2020-10-02 2020-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 643 66,363 0.98 12.85 8,269 852,762
2020-07-02 2020-06-30 4 MSBI Midland States Bancorp, Inc.
Restricted Stock Unit 		A - Award 2,436 3,799 178.72
2020-07-02 2020-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,144 65,719 1.77 14.95 17,105 982,504
2020-07-02 2020-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,995 64,575 3.19 14.95 29,832 965,399
2020-04-02 2020-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 956 62,580 1.55 17.49 16,723 1,094,520
2020-04-02 2020-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 473 61,624 0.77 17.49 8,269 1,077,797
2020-01-03 2019-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 517 61,151 0.85 28.96 14,965 1,770,928
2020-01-03 2019-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 286 60,634 0.47 28.96 8,269 1,755,963
2019-10-02 2019-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 566 60,349 0.95 26.05 14,751 1,572,080
2019-10-02 2019-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 317 59,782 0.53 26.05 8,269 1,557,329
2019-07-02 2019-06-30 4 MSBI Midland States Bancorp, Inc.
Restricted Stock Unit 		A - Award 1,363 1,363
2019-07-02 2019-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 525 59,465 0.89 26.72 14,016 1,588,902
2019-07-02 2019-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,117 58,940 1.93 26.72 29,837 1,574,885
2019-07-02 2019-04-11 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 349 37,370 0.94 25.73 8,978 961,343
2019-04-02 2019-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 568 57,824 0.99 24.06 13,655 1,391,237
2019-04-02 2019-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 184 57,256 0.32 24.06 4,437 1,377,582
2019-04-02 2019-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 738 57,072 1.31 24.06 17,750 1,373,144
2019-01-03 2018-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 540 56,334 0.97 22.34 12,056 1,258,500
2019-01-03 2018-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 199 55,794 0.36 22.34 4,437 1,246,444
2019-01-03 2018-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 795 55,596 1.45 22.34 17,750 1,242,006
2018-12-10 2018-12-07 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 33 3,543 0.94 23.40 772 82,913
2018-10-02 2018-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 368 54,801 0.68 32.10 11,823 1,759,115
2018-10-02 2018-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 138 54,433 0.25 32.10 4,438 1,747,292
2018-10-02 2018-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 553 54,295 1.03 32.10 17,750 1,742,854
2018-07-03 2018-06-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 338 53,742 0.63 34.26 11,576 1,841,185
2018-07-03 2018-06-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 157 53,404 0.29 34.26 5,375 1,829,609
2018-07-03 2018-06-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 628 53,247 1.19 34.26 21,500 1,824,234
2018-05-31 2018-05-29 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 246 37,021 0.67 32.93 8,091 1,219,217
2018-05-31 2018-05-29 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 23 3,510 0.67 32.93 767 115,606
2018-04-03 2018-03-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 360 52,619 0.69 31.56 11,368 1,660,662
2018-04-03 2018-03-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 117 52,259 0.22 31.56 3,687 1,649,294
2018-04-03 2018-03-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 467 52,142 0.90 31.56 14,750 1,645,606
2018-03-14 2018-03-13 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 249 36,775 0.68 32.28 8,037 1,187,049
2018-03-14 2018-03-13 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 24 3,487 0.69 32.30 775 112,630
2018-02-02 2018-02-01 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other -30,153 30,153 -50.00
2018-02-02 2018-02-01 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 10,051 31,317 47.26
2018-01-03 2017-12-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 313 51,675 0.61 32.48 10,159 1,678,397
2018-01-03 2017-12-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 114 51,362 0.22 32.48 3,687 1,668,238
2018-01-03 2017-12-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 454 51,248 0.89 32.48 14,750 1,664,551
2017-12-04 2017-11-29 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 229 36,526 0.63 31.61 7,239 1,154,587
2017-12-04 2017-11-29 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 22 3,463 0.64 31.60 695 109,431
2017-11-29 2017-11-20 4 MSBI Midland States Bancorp, Inc.
Common Stock 		S - Sale -2,000 60,306 -3.21 31.17 -62,339 1,879,720
2017-10-03 2017-09-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 315 50,794 0.62 31.68 9,979 1,609,165
2017-10-03 2017-09-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 116 50,479 0.23 31.68 3,688 1,599,186
2017-10-03 2017-09-29 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 466 50,363 0.93 31.68 14,750 1,595,498
2017-10-03 2017-08-29 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 244 36,297 0.68 29.71 7,249 1,078,340
2017-10-03 2017-08-29 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 19 3,441 0.56 29.64 563 101,984
2017-08-16 2017-08-15 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 340 3,422 11.03 30.91 10,510 105,784
2017-08-14 2017-08-14 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 350 3,082 12.81 30.53 10,684 94,080
2017-08-11 2017-08-10 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 337 2,732 14.07 29.71 10,012 81,169
2017-08-11 2017-08-09 4 MSBI Midland States Bancorp, Inc.
Common Stock 		P - Purchase 328 2,395 15.87 30.38 9,966 72,772
2017-07-05 2017-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 291 49,897 0.59 33.52 9,755 1,672,559
2017-07-05 2017-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 166 49,606 0.34 33.52 5,562 1,662,804
2017-07-05 2017-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 664 49,440 1.36 33.52 22,250 1,657,242
2017-07-05 2017-05-26 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 208 36,053 0.58 34.37 7,149 1,239,142
2017-07-05 2017-05-26 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 12 2,067 0.58 34.39 413 71,092
2017-04-11 2017-03-03 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 203 35,845 0.57 35.16 7,138 1,260,371
2017-04-11 2017-03-03 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 11 2,055 0.54 35.22 387 72,376
2017-04-04 2017-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 279 48,777 0.58 34.39 9,599 1,677,427
2017-04-04 2017-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 101 48,497 0.21 34.39 3,469 1,667,829
2017-04-04 2017-03-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 403 48,397 0.84 34.39 13,875 1,664,360
2017-04-04 2017-03-31 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other -20,769 62,306 -25.00
2017-04-04 2017-03-31 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 6,923 21,266 48.27
2017-01-19 2016-12-02 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 195 35,642 0.55 32.45 6,327 1,156,472
2017-01-19 2016-12-02 4 MSBI Midland States Bancorp, Inc.
Common Stock 		J - Other 11 2,044 0.54 32.57 358 66,566
2017-01-04 2016-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 217 47,993 0.46 36.18 7,867 1,736,393
2017-01-04 2016-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 96 47,776 0.20 36.18 3,469 1,728,526
2017-01-04 2016-12-31 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 383 47,680 0.81 36.18 13,875 1,725,057
2016-10-03 2016-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 346 47,296 0.74 25.34 8,778 1,198,490
2016-10-03 2016-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 137 46,950 0.29 25.34 3,469 1,189,711
2016-10-03 2016-09-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 548 46,813 1.18 25.34 13,875 1,186,242
2016-07-05 2016-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 366 46,265 0.80 21.69 7,942 1,003,498
2016-07-05 2016-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 356 45,899 0.78 21.69 7,719 995,557
2016-07-05 2016-06-30 4 MSBI Midland States Bancorp, Inc.
Common Share Equivalent 		A - Award 1,423 45,543 3.23 21.69 30,875 987,838
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		399,271
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		386,961
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		468,003
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		420,375
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common stock 		634,958
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		399,271
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		386,961
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		468,003
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common Stock 		420,375
2016-05-23 3 MSBI Midland States Bancorp, Inc.
Common stock 		634,958
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)