May 27, 2023

05/26 05/26/2023 | 09:09pm EDT Message : Date of Report (Date of earliest event reported): May 24, 2023 __________________________________________ __________________________________________ (217)365-4544 N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ ☐ ☐ ☐ Securities registered pursuant to Section 12(b) of the Act: Title of each class Common Stock, $0.001 par value BUSE Nasdaq Stock Market LLC Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 24, 2023, at the 2023 Annual Meeting of Stockholders (the "Annual Meeting") of First Busey Corporation ("Busey"), Busey's stockholders, upon the recommendation of Busey's Board of Directors, approved the First Busey Corporation Amended 2020 Equity Incentive Plan (the "Amended Plan"). The Amended Plan authorizes an increase of 1,350,000 shares of Busey's common stock, $0.001 par value, for equity awards, which may be granted in any one or a combination of the following forms: incentive stock options; nonqualified stock options; stock appreciation rights; restricted shares; restricted stock units, performance-based restricted stock units, deferred stock units, which may or may not include dividend equivalents; other equity-based or equity-related or cash-based awards, including without limitation, the grant or offer for sale of unrestricted shares, bonus share awards, phantom share awards, performance share awards and performance units settled in cash. Participants under the Amended Plan may include employees, directors, and consultants of Busey or its subsidiaries. A summary of the principal features of the Amended Plan was included in Busey 's definitive proxy statement for the Annual Meeting, as filed with the U.S. Securities and Exchange Commission on April 14, 2023 (the "Proxy Statement"). The foregoing description of the Plan does not purport to be complete and is qualified in its entirety by the summary of the principal features of the Plan included in the Proxy Statement and the full text of the Amended Plan, a copy of which was filed as Appendix A to the Proxy Statement, and is incorporated by reference into, this Current Report on Form 8-K. Item 5.07 Submission of Matters to a Vote of Security Holders. Stockholder representation at the Annual Meeting was summarized as follows: Shares of common stock outstanding and entitled to vote at the Annual Meeting 55,264,095 Item 8.01. Other Events On May 24, 2023, Busey's board of directors approved an amendment to Busey's previously adopted share repurchase program to increase the number of shares of Busey's common stock available for repurchase by 2,000,000 shares. As of the close of business on May 24, 2023, under the amended share repurchase program, Busey is now authorized to repurchase, from time to time as Busey deems appropriate, up to 2,122,210 remaining shares of Busey's common stock. Repurchases may be made in the open market, through block trades or otherwise, and in privately negotiated transactions. The repurchase program does not obligate Busey to repurchase any dollar amount or number of shares. The repurchase program has no expiration date, and may be expanded, modified, suspended, or discontinued by Busey's board of directors at its discretion at any time. Item 9.01. Financial Statements and Exhibits. Exhibit Number