Item 9A. Controls and Procedures
ITEM 9A. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
An evaluation of Busey’s disclosure controls and procedures, as defined in Rule 13a-15(e) under the Exchange Act, was carried out as of December 31, 2025, under the supervision and with the participation of its Chief Executive Officer, Chief Financial Officer, and several other members of senior management. Based on this evaluation, Busey’s Chief Executive Officer and Chief Financial Officer concluded that, as of December 31, 2025, Busey’s disclosure controls and procedures were effective in ensuring that the information Busey is required to disclose in the reports Busey files or submits under the Exchange Act was (1) accumulated and communicated to Busey’s management (including the Chief Executive Officer and Chief Financial Officer) to allow timely decisions regarding required disclosure, and (2) recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms.
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
During the three months ended December 31, 2025, no change occurred in Busey’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, Busey’s internal control over financial reporting.
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Busey’s management is responsible for establishing and maintaining adequate internal control over financial reporting. Busey’s internal control over financial reporting is a process designed under the supervision of Busey’s Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Busey’s Consolidated Financial Statements for external reporting purposes in accordance with U.S. generally accepted accounting principles.
As of December 31, 2025, management assessed the effectiveness of Busey’s internal control over financial reporting based on the criteria for effective internal control over financial reporting established in “Internal Control—Integrated Framework,” issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in 2013. Based on this assessment, management determined that Busey maintained effective internal control over financial reporting as of December 31, 2025, based on the COSO criteria.
RSM US LLP, an independent registered public accounting firm that audited Busey’s Consolidated Financial Statements included in this Annual Report, has issued an audit opinion on the effectiveness of Busey’s internal control over financial reporting as of December 31, 2025. The report, which expresses an unqualified opinion on the effectiveness of Busey’s internal control over financial reporting as of December 31, 2025, is included in this Item under the heading “ Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting .”
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Report of Independent Registered Public Accounting Firm
To the Stockholders and the Board of Directors of First Busey Corporation and Subsidiaries
Opinion on the Internal Control Over Financial Reporting
We have audited First Busey Corporation and Subsidiaries’ (the Company) internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013. In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, stockholders’ equity and cash flows for each of the three years in the period ended December 31, 2025, and the related notes to the consolidated financial statements and our report dated February 26, 2026 expressed an unqualified opinion.
Basis for Opinion
The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
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Definition and Limitations of Internal Control Over Financial Reporting
A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
/s/ RSM US LLP
Des Moines, Iowa
February 26, 2026
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ITEM 9B. OTHER INFORMATION
During the fiscal quarter ended December 31, 2025, none of Busey’s directors or executive officers adopted or terminated any contract, instruction, or written plan for the purchase or sale of Busey securities that was intended to satisfy the affirmative defense conditions of Rule 10b5‑1(c) or any non-Rule 10b5‑1 trading arrangement.
ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
Not applicable.
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE
EXECUTIVE OFFICERS
The business experience of each of Busey’s executive officers for at least the past five years is set forth below.
Van A. Dukeman. Mr. Dukeman, age 67, has been serving as a Director and as Chief Executive Officer of First Busey Corporation since August 2007. Mr. Dukeman has also been serving as Chairman the Board of Directors of First Busey Corporation since July 2020, and as President of First Busey Corporation since January 2026. In addition to his service with First Busey Corporation, Mr. Dukeman has been serving Busey Bank as its Chief Executive Officer since January 2026, and previously served as Chief Executive Officer of Busey Bank from October 2023 through February 2025. Prior to August 2007, Mr. Dukeman served as a Director, Chief Executive Officer, and President of Main Street Trust, Inc. from May 1998 until its merger with Busey.
Amy L. Randolph. Mrs. Randolph, age 51, has been serving as Chief Operating Officer of First Busey Corporation since October 2023. Prior to that, she served as Chief of Staff from April 2017 to October 2023, Executive Vice President and Chief Brand Officer from March 2014 to April 2017, and Senior Vice President of Growth Strategies from February 2008 to March 2014.
Christopher H.M. Chan . Mr. Chan, age 40, has been serving as Chief Financial Officer of First Busey Corporation since September 2025. Prior to joining Busey, Mr. Chan served as Executive Vice President, Chief Strategy Officer at First National Bank, based in Pittsburgh, Pennsylvania, from May 2025 to September 2025, and as Senior Vice President, Director of Corporate Strategy from July 2019 to May 2025, where he was responsible for leading strategic planning, investor relations, corporate development, and advancing First National Bank’s digital and data strategy, with oversight of digital channels, data science, artificial intelligence, and data management and governance. Prior to that, Mr. Chan served as a Portfolio Manager at Balyasny Asset Management.
Monica L. Bowe. Ms. Bowe, age 52, has been serving as Chief Risk Officer of First Busey Corporation since January 2020. Prior to that, she served as Senior Director of Operational Risk Program Management at KeyBank, a subsidiary of KeyCorp headquartered in Cleveland, Ohio, since 2015.
Amy J. Fauss . Ms. Fauss, age 58, has been serving as Chief Information and Technology Officer of First Busey Corporation since March 2025. Prior to that, she served as Chief Operating Officer of CrossFirst from February 2024 to March 2025, Chief Human Resources Officer and Chief Administrative Officer of CrossFirst and CrossFirst Bank from May 2023 to February 2024; Chief Human Resources Officer of CrossFirst and CrossFirst Bank from January 2021 until May 2023; and Chief Operating Officer of CrossFirst Bank from December 2009 until June 2022. Prior to joining CrossFirst, she served as Executive Vice President and Chief Operating Officer of Solutions Bank, where she directed all aspects of daily operations and human resources. Her experience also includes senior management positions at Hillcrest Bank and Citizens-Jackson County Bank.
T. Anthony Hammond . Mr. Hammond, age 44, has been serving as President of Busey Bank since January 2026. Prior to that, Mr. Hammond served as Busey’s President of Regional Banking since joining Busey in May 2025, overseeing Busey’s regional operating sales and revenue model for Busey’s Central, West, and Texas regions, including all commercial, wealth, treasury management, payments, and specialty business units. Mr. Hammond has two decades of commercial banking experience—including serving as Head of Commercial and Middle Market Banking at Heartland Financial USA and senior leadership roles at Arizona Bank & Trust, Johnson Bank and BOK Financial—with a track record of consistently leading high-performing teams, growing market share, and attracting top talent across the industry.
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Chip S. Jorstad . Mr. Jorstad, age 45, has been serving as Chief Credit Officer of Busey Bank since March 2025. Prior to that, he served in several roles at Busey Bank: as President of Credit and Bank Administration from July 2022 to March 2025; Co-Chief Banking Officer from May 2020 to July 2022; Regional President Downstate Illinois from April 2017 to May 2020; Director of Middle Market and Agricultural Banking from January 2014 to September 2015; and Senior Vice President from February 2011 to January 2014. Mr. Jorstad left Busey Bank for a brief period and served as Director of Commercial Real Estate for JSM Commercial from October 2015 until April 2017. Prior to joining Busey Bank in 2011, Mr. Jorstad worked as Director of Advancement for the University of Illinois at Urbana-Champaign, and also served as an Assistant Vice President for First Midwest Bank.
Scott A. Phillips. Mr. Phillips, age 47, has been serving as Chief Accounting Officer of First Busey Corporation since February 2025, and as Busey’s Principal Accounting Officer since March 2023. Mr. Phillips previously served as Busey’s Interim Chief Financial Officer from February 2025 to September 2025, and as Busey’s Corporate Controller from January 2019 to February 2025. Prior to that, Mr. Phillips was in the banking industry for nine years at BB&T Corporation (now Truist Financial) and Florida Community Bank after beginning his career at a Big 4 public accounting firm serving clients primarily in the financial services industry.
John J. Powers. Mr. Powers, age 70, has been serving as General Counsel of First Busey Corporation since December 2011. Prior to that, he was a stockholder of Meyer Capel, P.C., a law firm based in Champaign, Illinois, since 1998.
DIRECTORS OF THE REGISTRANT AND CORPORATE GOVERNANCE
Information required by this Item is incorporated herein by reference to Busey’s Proxy Statement for its 2026 Annual Meeting of Stockholders, to be filed with the SEC within 120 days of Busey’s fiscal year end, under the captions “Proposal 1: Election of Directors,” “Executive Officers, Corporate Governance and Board of Directors Matters,” and “Delinquent Section 16(a) Reports.”
ITEM 11. EXECUTIVE COMPENSATION
The information required by this Item is incorporated herein by reference to Busey’s Proxy Statement for its 2026 Annual Meeting of Stockholders, to be filed with the SEC within 120 days of Busey’s fiscal year end, under the captions “Director Compensation,” “Compensation Discussion and Analysis,” “Compensation Committee Report,” “Compensation of Named Executive Officers,” “CEO Pay Ratio,” and “Compensation Committee Interlocks and Insider Participation.”
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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
STOCK INCENTIVE PLANS
The following table discloses the number of outstanding options, warrants, and rights granted by Busey to participants in its equity compensation plans, as well as the number of securities remaining available for future issuance under these plans, as of December 31, 2025. The table provides this information separately for equity compensation plans that have and have not been approved by security holders. Additional information regarding stock incentive plans is presented in “ Note 16. Stock-based Compensation ” in the Notes to Consolidated Financial Statements included pursuant to Item 8. Financial Statements and Supplementary Data .
(a)
Number of
securities to be
issued upon
exercise of
outstanding
options, warrants
and rights 1
(b)
Weighted-
average
exercise price of
outstanding
options,
warrants and
rights 2
(c)
Number of
securities
remaining available for
future issuance
under equity
compensation
plans (excluding
securities
reflected in
column (a)) 3
Equity compensation plans
Approved by stockholders 4
1,866,580 $ 23.53 954,498
Not approved by stockholders 5
465,711 16.04 — 6
Total as of December 31, 2025
2,332,291 $ 16.44 954,498
___________________________________________
1. Shares approved by stockholders include 1,125,224 shares issuable upon the vesting and settlement of outstanding RSU awards, 538,956 shares issuable upon the vesting and settlement of outstanding PSU awards (at target), 187,294 shares issuable upon the vesting and settlement of outstanding DSU awards, and 15,106 shares issuable upon the exercise of outstanding stock option awards. The stock option awards were assumed in connection with the acquisition of First Community. Shares not approved by stockholders include 270,398 shares issuable upon the exercise of outstanding SSAR awards and 195,313 shares issuable upon the vesting and settlement of RSU awards, which were assumed in connection with the acquisition of CrossFirst.
2. Weighted average exercise prices relate only to stock options and SSARs, and do not relate to RSU, PSU, or DSU awards, each of which does not have an exercise price, or awards under the ESPP.
3. Shares approved by stockholders include 658,552 shares available for future issuance under the 2020 Equity Plan and 295,946 shares available for future issuance under the ESPP. All of the shares that remain available for future issuance under the ESPP are eligible to be purchased during the current offering period.
4. Includes the 2020 Equity Plan, the 2010 Equity Incentive Plan, as amended, the First Community 2016 Equity Incentive Plan, and the ESPP.
5. Includes the CrossFirst 2018 Omnibus Equity Incentive Plan, which was established prior to CrossFirst’s initial public offering in August 2019. Following the merger, awards issued under this plan were included in Busey’s Form S‑8 POS filed with the SEC on March 7, 2025 .
6. There were 1,417,362 shares not approved by stockholders representing the difference between shares covered by Busey’s Form S‑4 filed with the SEC on October 18, 2024 , and shares covered by Busey’s Form S‑8 POS filed with the SEC on March 7, 2025 . These shares are utilized only to issue dividend equivalent units on existing RSU awards assumed in connection with the acquisition of CrossFirst and cannot be utilized to issue new awards.
Other information required by Item 12 is incorporated herein by reference to Busey’s Proxy Statement for its 2026 Annual Meeting of Stockholders, to be filed with the SEC within 120 days of Busey’s fiscal year end, under the caption “ Stock Ownership of Certain Beneficial Owners and Management .”
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
The information required by this Item is incorporated herein by reference to Busey’s Proxy Statement for its 2026 Annual Meeting of Stockholders, to be filed with the SEC within 120 days of Busey’s fiscal year end, under the captions “Executive Officers, Corporate Governance and Board of Directors Matters” and “Certain Relationships and Related-Person Transactions.”
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
The information required by this Item is incorporated herein by reference to Busey’s Proxy Statement for its 2026 Annual Meeting of Stockholders, to be filed with the SEC within 120 days of Busey’s fiscal year end, under the caption “Audit and Related Fees.”
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PART IV
ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES
EXHIBITS
A list of exhibits to this Annual Report is set forth on the Exhibit Index beginning on page 195 , and is incorporated into this Annual Report by reference.
Stockholders may obtain a copy of any of the exhibits by writing to First Busey Corporation, Corporate Secretary, at 11440 Tomahawk Creek Parkway, Leawood, Kansas 66211, or by visiting the SEC’s EDGAR database at sec.gov . Busey’s SEC file number is 0-15950.
FINANCIAL STATEMENT SCHEDULES
Busey’s Consolidated Financial Statements are included as part of this Annual Report in “ Part II—Item 8. Financial Statements and Supplementary Data ,” as follows:
Report of Independent Registered Public Accounting Firm (PCAOB ID 49 )
91
Consolidated Balance Sheets
94
Consolidated Statements of Income
95
Consolidated Statements of Comprehensive Income
96
Consolidated Statements of Stockholders’ Equity
97
Consolidated Statements of Cash Flows
100
Notes to Consolidated Financial Statements
102
Reports on Internal Control Over Financial Reporting are included as part of this Annual Report in “ Part II—Item 9A. Controls and Procedures ,” as follows:
Management’s Report on Internal Control Over Financial Reporting
188
Report of Independent Registered Public Accounting Firm (PCAOB ID 49)
189
ITEM 16. FORM 10-K SUMMARY
None.
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EXHIBIT INDEX
Incorporated herein by reference
Exhibit
Number
Description of Exhibit Filing Entity 1
(File No.)
Form
Exhibit Filing Date
Filed
Herewith
3.1 Amended and Restated Articles of Incorporation of First Busey Corporation, together with: (1) the Certificate of Amendment to Articles of Incorporation, dated July 31, 2007; (2) the Certificate of Amendment to Articles of Incorporation, dated December 3, 2009; (3) the Certificate of Amendment to Articles of Incorporation, dated May 21, 2010; and (4) the Certificate of Change Pursuant to Nevada Revised Statutes Section 78.209, dated September 8, 2015
BUSE
(000-15950)
10-Q 3.1 11/06/2015
3.2 Certificate of Amendment to Articles of Incorporation, dated May 22, 2020
BUSE
(333-238782)
S-8 4.2 05/29/2020
3.3 Certificate of Amendment to Articles of Incorporation, dated February 27, 2025
BUSE
(000-15950) 8-K 3.3 03/03/2025
3.4 Second Amended and Restated By-Laws of First Busey Corporation
BUSE
(000-15950)
8-K 3.1 12/07/2023
3.5 Amendment to the Second Amended and Restated By-Laws of First Busey Corporation
BUSE
(000-15950) 8-K 3.5 03/03/2025
3.6 Certificate of Designation of Series A Non-Cumulative Perpetual Preferred Stock of First Busey Corporation
BUSE
(000-15950) 8-K 3.6 03/03/2025
3.7 Certificate of Designation designating the 8.25% Fixed-Rate Series B Non-Cumulative Perpetual Preferred Stock.
BUSE
(000-15950) 8-K 3.2 05/20/2025
4.1 Certain instruments defining the rights of holders of long-term debt of Busey, none of which authorize a total amount of indebtedness in excess of 10% of the total assets of First Busey Corporation and its subsidiaries on a consolidated basis, have not been filed as exhibits. Busey hereby agrees to furnish a copy of any of these agreements to the SEC upon request.
4.2 Description of First Busey Corporation’s Securities Registered Pursuant to Section 12 of The Securities Exchange Act of 1934
BUSE
(000-15950) 10-Q
4.1
05/09/2025
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Incorporated herein by reference
Exhibit
Number
Description of Exhibit Filing Entity 1
(File No.)
Form
Exhibit Filing Date
Filed
Herewith
4.3
Deposit Agreement, dated as of May 20, 2025, by and among First Busey Corporation, Computershare, Inc. and Computershare Trust Company, N.A., and the holders from time to time of Depositary Receipts described therein
BUSE
(000-15950)
8-K
4.1
05/20/2025
4.4
Form of Depositary Receipt representing the Depositary Shares (included as Exhibit A to Exhibit 4.3)
BUSE
(000-15950)
8-K
4.2
05/20/2025
10.1† Employment Agreement by and between Main Street Trust, Inc., and Van A. Dukeman, dated December 26, 2001
MSTI
(000-30031)
10-K 10.2 03/29/2002
10.2† Letter Agreement between Main Street Trust, Inc., and Van A. Dukeman, dated September 20, 2006
MSTI
(000-30031)
8-K 99.2 09/21/2006
10.3† Van A. Dukeman Addendum to Employment Agreement
BUSE
(000-15950)
10-Q 10.1 05/13/2010
10.4† Van A. Dukeman First Amendment to Employment Agreement, dated December 31, 2008
BUSE
(000-15950)
10-Q 10.1 05/08/2012
10.5† First Busey Corporation 2010 Equity Incentive Plan, as amended
BUSE
(000-15950)
DEF 14A Appendix C 04/17/2015
10.6† First Community Financial Partners, Inc. 2016 Equity Incentive Plan
FCFP
(333-211811)
S-8 4.4 06/03/2016
10.7† Form of Incentive Stock Option Award Agreement under the First Community Financial Partners, Inc. 2016 Equity Incentive Plan
FCFP
(333-211811)
S-8 4.8 06/03/2016
10.8† First Amendment of the First Community Financial Partners, Inc. 2016 Equity Incentive Plan
BUSE
(000-15950)
10-K 10.38 02/28/2018
10.9† Jeffrey D. Jones Employment Agreement, dated July 26, 2019
BUSE
(000-15950)
8-K 10.1 07/26/2019
10.10† Form of Director Deferred Stock Unit Award Agreement under the First Busey Corporation 2010 Equity Incentive Plan, as amended
BUSE
(000-15950)
10-Q 10.1 08/07/2018
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Incorporated herein by reference
Exhibit
Number
Description of Exhibit Filing Entity 1
(File No.)
Form
Exhibit Filing Date
Filed
Herewith
10.11† Amy L. Randolph Employment Agreement, dated December 5, 2019
BUSE
(000-15950)
8-K 10.2 12/10/2019
10.12† John J. Powers Employment Agreement, dated December 5, 2019
BUSE
(000-15950)
8-K 10.3 12/10/2019
10.13† Jeffrey D. Jones Amendment to Employment Agreement, dated December 5, 2019
BUSE
(000-15950)
8-K 10.4 12/10/2019
10.14†
Form of Performance-Based Restricted Stock Unit Award Agreement under the First Busey Corporation 2020 Equity Incentive Plan
BUSE
(000-15950)
8-K 10.1 07/09/2020
10.15†
Form of Director Deferred Stock Unit Award Agreement under the First Busey Corporation 2020 Equity Incentive Plan
BUSE
(000-15950)
10-Q 10.1 08/06/2020
10.16†
First Busey Corporation 2021 Employee Stock Purchase Plan
BUSE
(0-15950)
DEF 14A Appendix A 04/08/2021
10.17
Second Amended and Restated Credit Agreement, dated as of May 28, 2021, by and between First Busey Corporation and U.S. Bank National Association
BUSE
(000-15950)
8-K 10.34 06/02/2021
10.18†
First Busey Profit Sharing Plan and Trust (as amended and restated January 1, 2022)
BUSE
(000-15950)
10-K 10.30 02/23/2023
10.19†
First Busey Corporation Amended 2020 Equity Incentive Plan
BUSE
(000-15950)
DEF 14A
Appendix A 04/14/2023
10.20†
Letter Agreement, dated August 26, 2024, by and between First Busey Corporation and Van A. Dukeman
BUSE
(000-15950)
8-K 2.1 08/27/2024
10.21†
Letter Agreement, dated August 26, 2024, by and between First Busey Corporation and Michael J. Maddox
BUSE
(000-15950)
8-K 99.1 08/27/2024
10.22†
Separation Agreement between First Busey Corporation and Jeffrey D. Jones, dated February 18, 2025
BUSE
(000-15950) 8-K
10.1
02/21/2025
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Incorporated herein by reference
Exhibit
Number
Description of Exhibit Filing Entity 1
(File No.)
Form
Exhibit Filing Date
Filed
Herewith
10.23†
Amendment to the First Busey Corporation Profit Sharing Plan and Trust, effective September 27, 2024
BUSE
(000-15950) 10-K 10.23 02/27/2025
10.24†
First Busey Corporation 2021 Employee Stock Purchase Plan First Amendment
BUSE
(000-15950) 10-K 10.23 02/27/2025
10.25†
Employment Agreement, dated as of March 1, 2025, by and among First Busey Corporation, Busey Bank and Scott A. Phillips
BUSE
(000-15950) 8-K 10.6 03/03/2025
10.26†
Employment Agreement, dated June 1, 2020, by and between CrossFirst Bankshares, Inc. and Michael J. Maddox
BUSE
(000-15950) 8-K 10.3 03/03/2025
10.27†
CrossFirst Bankshares, Inc. 2018 Omnibus Equity Incentive Plan, as Amended and Restated
BUSE
(000-15950) 8-K 10.4 03/03/2025
10.28†
Form of Retention Agreement, dated as of March 1, 2025
BUSE
(000-15950) 10-Q 10.2 05/09/2025
10.29†
Amendment to Employment Agreement, dated March 4, 2025, by and among First Busey Corporation, Busey Bank, and Amy L. Randolph
BUSE
(000-15950) 10-Q 10.1 05/09/2025
10.30† Employment Agreement, by and among First Busey Corporation, Busey Bank and Christopher H.M. Chan, effective September 30, 2025
BUSE
(001-42677) 8-K 10.1 09/26/2025
10.31† Form of Restricted Stock Unit Award Agreement under the First Busey Corporation 2020 Equity Incentive Plan
X
10.32† Employment Agreement, dated November 21, 2019, by and among First Busey Corporation, Busey Bank, and Monica L. Bowe
X
10.33† Separation Agreement and Release, dated January 27, 2026, by and between First Busey Corporation and its subsidiaries and Michael J. Maddox
X
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Incorporated herein by reference
Exhibit
Number
Description of Exhibit Filing Entity 1
(File No.)
Form
Exhibit Filing Date
Filed
Herewith
19.1 First Busey Corporation Insider Trading Policy
X
21.1 List of Subsidiaries of First Busey Corporation
X
23.1 Consent of Independent Registered Public Accounting Firm, RSM US LLP
X
31.1 Certification of Principal Executive Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a)
X
31.2 Certification of Principal Financial Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a)
X
32.1 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, from First Busey’s Chief Executive Officer
X
32.2 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, from First Busey’s Chief Financial Officer
X
97.1 First Busey Corporation Clawback Policy
X
101.INS iXBRL Instance Document
101.SCH iXBRL Taxonomy Extension Schema
101.CAL iXBRL Taxonomy Extension Calculation Linkbase
101.LAB iXBRL Taxonomy Extension Label Linkbase
101.PRE iXBRL Taxonomy Extension Presentation Linkbase
101.DEF iXBRL Taxonomy Extension Definition Linkbase
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Incorporated herein by reference
Exhibit
Number
Description of Exhibit Filing Entity 1
(File No.)
Form
Exhibit Filing Date
Filed
Herewith
104 Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101)
___________________________________________
1. BUSE is First Busey Corporation. MSTI is Main Street Trust, Inc. FCFP is First Community Financial Partners, Inc.
† Management contract or compensatory plan.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
FIRST BUSEY CORPORATION
(Registrant)
By: /s/ VAN A. DUKEMAN
Van A. Dukeman
Chairman, President, and Chief Executive Officer
(Principal Executive Officer)
Date: February 26, 2026
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Signature Title Date
/s/ VAN A. DUKEMAN Chairman, President, and Chief Executive Officer February 26, 2026
Van A. Dukeman (Principal Executive Officer)
/s/ CHRISTOPHER H.M. CHAN Executive Vice President, Chief Financial Officer February 26, 2026
Christopher H.M. Chan (Principal Financial Officer)
/s/ SCOTT A. PHILLIPS Executive Vice President, Chief Accounting Officer February 26, 2026
Scott A. Phillips
(Principal Accounting Officer)
/s/ STANLEY J. BRADSHAW Director February 26, 2026
Stanley J. Bradshaw
/s/ RODNEY K. BRENNEMAN Director February 26, 2026
Rodney K. Brenneman
/s/ STEVEN W. CAPLE Director February 26, 2026
Steven W. Caple
/s/ MICHAEL D. CASSENS Director February 26, 2026
Michael D. Cassens
/s/ JENNIFER M. GRIGSBY Director February 26, 2026
Jennifer M. Grigsby
/s/ KAREN M. JENSEN Director February 26, 2026
Karen M. Jensen
First Busey Corporation (BUSE) | 2025 — 201
Table of Contents
Signature Title Date
/s/ FREDERIC L. KENNEY Director February 26, 2026
Frederic L. Kenney
/s/ STEPHEN V. KING Director February 26, 2026
Stephen V. King
/s/ KEVIN S. RAUCKMAN Director February 26, 2026
Kevin S. Rauckman
/s/ SCOTT A. WEHRLI Director February 26, 2026
Scott A. Wehrli
/s/ TIFFANY B. WHITE Director February 26, 2026
Tiffany B. White
First Busey Corporation (BUSE) | 2025 — 202