How Ludwig was paid
$1.5M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Jeffrey G. LudwigPresident and Chief Executive Officer of the Company and Chief Executive Officer of the Bank | $749,800 | $562,322 | $194,956 | $25,163 | $1,532,241 |
| Jeffrey S. MeffordExecutive Vice President of the Company and President of the Bank | $525,000 | $341,258 | $126,000 | $23,577 | $1,015,835 |
| Jeremy A. JamesonExecutive Vice President and Chief Credit Officer of the Bank | $456,400 | $841,264 | $118,662 | $11,500 | $1,427,826 |
| Eric T. LemkeSenior Vice President and Chief Financial Officer of the Company and the Bank | $437,400 | $218,721 | $69,987 | $16,097 | $742,205 |
| Daniel E. CaseyExecutive Vice President and Chief Risk Officer of the Bank | $340,615 | $157,526 | $54,498 | $11,630 | $564,269 |
What changed and why
- $1.5MCEO total compensation increased to $1,532,241 in 2025 compared to $1,466,243 in 2024.
- 87%Advisory say-on-pay proposal received approximately 87 percent support at the 2025 annual meeting.
- $195KNon-equity incentive plan compensation for the CEO increased to $194,956 in 2025.
- $562KStock awards granted to the CEO totaled $562,322.
Other Midland States Bancorp proxy statements
- 2025 proxy statement
Jeffrey G. Ludwig paid $1.5M (-10% on the year), pay ratio 23:1.
Filed Jul 01, 2025
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.