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Exhibit 4.1

FIRST MIDWEST BANCORP, INC.
Description of Securities Registered Under Section 12 of the 
Securities Exchange Act of 1934
The following description of the securities of First Midwest Bancorp, Inc. (“First Midwest”) is a summary, does not purport to be complete and is qualified in its entirety by reference to First Midwest’s Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”) and Amended and Restated By-Laws (the “By-Laws”), copies of which are incorporated by reference as Exhibits 3.1 through 3.4 to First Midwest’s annual report on Form 10-K for the year ended December 31, 2019 to which this Exhibit 4.1 is attached.  For a complete description, refer to the Certificate of Incorporation, By-Laws and applicable provisions of relevant law, including applicable provisions of the General Corporation Law of the State of Delaware and federal law governing bank holding companies.
Pursuant to the Certificate of Incorporation, First Midwest is authorized to issue two hundred fifty million (250,000,000) shares of common stock, $0.01 par value per share, and one million (1,000,000) shares of preferred stock, without par value.  As of December 31, 2019, First Midwest had one class of securities, its common stock, registered under Section 12 of the Securities Exchange Act of 1934, as amended.  As of December 31, 2019, First Midwest had no shares of preferred stock outstanding.
Because First Midwest is a holding company, the rights of First Midwest to participate in any distribution of assets of any subsidiary upon its liquidation or reorganization or otherwise (and thus the ability of First Midwest stockholders to benefit indirectly from such distribution) would be subject to the prior claims of creditors of that subsidiary, except to the extent that First Midwest itself may be a creditor of that subsidiary with recognized claims.  Claims on First Midwest’s subsidiaries by creditors other than First Midwest will include substantial obligations with respect to deposit liabilities and purchased funds.
COMMON STOCK
Dividends
Subject to the rights of any series of preferred stock authorized by First Midwest’s board of directors as provided by the Certificate of Incorporation, holders of common stock are entitled to dividends as and when declared by the board of directors out of funds legally available for the payment of dividends.
Voting Rights
Each holder of First Midwest common stock has one vote for each share held on matters presented for consideration by the stockholders.  Except as otherwise required by law or provided in any resolution adopted by First Midwest’s board of directors with respect to any series of preferred stock, the holders of common stock possess all voting power.  The Certificate of Incorporation does not provide for cumulative voting in the election of directors.

Preemptive and Conversion Rights
Holders of First Midwest common stock have no preemptive rights and no right to convert their stock into any other securities.
Redemption and Sinking Fund
There are no redemption or sinking fund provisions applicable to First Midwest common stock.  Holders of the common stock will have no liability for further calls or assessments and will not be personally liable for the payment of First Midwest’s debts except as they may be liable by reason of their own conduct or acts.
Issuance of Stock
The Certificate of Incorporation authorizes First Midwest’s board of directors to authorize the issuance of shares of common stock without stockholder approval.  However, the common stock is listed on the Nasdaq Stock Market, which requires stockholder approval of the issuance of additional shares of common stock under certain circumstances.
Liquidation Rights
In the event of liquidation or dissolution, subject to the rights of any outstanding series of preferred stock and creditors of First Midwest, holders of First Midwest common stock are entitled to share in all assets remaining for distribution to holders of common stock according to their interests therein.
Listing
First Midwest’s common stock is listed for trading on the Nasdaq Stock Market under the symbol “FMBI.”
PREFERRED STOCK
The Certificate of Incorporation authorizes the First Midwest board of directors to authorize the issuance of shares of First Midwest preferred stock without stockholder approval.  The First Midwest board of directors is authorized to divide the preferred stock into series and, subject to applicable law, to fix for any series of preferred stock the number of shares of such series and the voting powers (if any), designations and preferences, priorities, qualifications, privileges, limitations, restrictions, options, conversion rights, dividend features, retirement features, liquidation features, redemption features and any other special or relative rights that may be desired for any such series.  As of December 31, 2019, First Midwest had no shares of preferred stock outstanding.  If and when any First Midwest preferred stock is issued, the holders of First Midwest preferred stock may have a preference over holders of First Midwest common stock in the payment of dividends, upon liquidation of First Midwest, in respect of voting rights and in the redemption of the capital stock of First Midwest.
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CERTAIN ANTI-TAKEOVER MATTERS
The Certificate of Incorporation and Bylaws include a number of provisions that may have the effect of encouraging persons considering unsolicited tender offers or other unilateral takeover proposals to negotiate with the board of directors rather than pursue non-negotiated takeover attempts.  These provisions include the following: 
Filling Vacancies on Board of Directors
Under the Certificate of Incorporation, any vacancy occurring in First Midwest’s board of directors will be filled by a majority vote of the remaining directors. 
Advance Notice Requirements
The Certificate of Incorporation establishes procedures that stockholders must follow to nominate persons for election to First Midwest’s board of directors or make other proposals.  Generally, the stockholder making the nomination or proposal must deliver a written notice to First Midwest’s secretary not less than 120 nor more than 180 days prior to the date of the meeting.  The notice must contain certain information specified in the Bylaws.
Limitation on Ability of Stockholders to Call Special Meetings
The Certificate of Incorporation provides that special meetings of the stockholders may only be called by the board of directors, the chairman of the board or the president of First Midwest; provided that, a special meeting may be called by the holders of at least 51% of the voting power of the then outstanding shares of capital stock of First Midwest entitled to vote generally in the election of directors solely for the purpose of removing a director or directors for cause. 
Amendment of Certificate of Incorporation and Bylaws 
The Certificate of Incorporation provides that the affirmative vote of the holders of at least 80% of the outstanding shares of capital stock entitled to vote is required to alter, amend or repeal most provisions of the Certificate of Incorporation; provided, however, if any proposal to alter, amend or repeal any such provision is approved by 80% of the board of directors, then in such case only the affirmative vote as is required by law or as may otherwise be required by the Certificate of Incorporation of the outstanding shares of capital stock entitled to vote is required to alter, amend or repeal such provision.  The Bylaws may be amended only upon the affirmative vote of a majority of all of the directors or upon the affirmative vote of the holders of at least 67% of the voting power of the then outstanding shares of capital stock entitled to vote.
Higher Vote for Certain Business Combinations
The Certificate of Incorporation also contains an “affiliated transaction provision.”  The affiliated transaction provision provides that, notwithstanding any vote required by law or if no vote is required by law, a supermajority of at least 80% of all the votes that the holders of capital stock are entitled to cast shall be required for the approval of such transactions.  Such supermajority approval would be required for:
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•a merger or consolidation involving any “Interested Stockholder” (as defined below);
•a sale, lease, exchange, mortgage, pledge, transfer or other disposition of assets to or with an Interested Stockholder having an aggregate fair market value of $5 million or more; and
•certain transactions, including certain sales of securities to any Interested Stockholder, a plan of liquidation proposed by an Interested Stockholder or a reclassification of securities, recapitalization or other transaction that has the effect of increasing the proportionate holding of an Interested Stockholder.
For the purpose of the affiliated transaction provision, an “Interested Stockholder” includes any person or entity who directly or indirectly owns or controls 5% or more of First Midwest’s voting power.  The supermajority approval requirement does not apply to any transaction that is either approved by a majority of disinterested directors or if certain pricing and procedural requirements are met.
Considerations for Board of Directors in Evaluation of Certain Acquisition Proposals
Pursuant to an offer to tender or exchange any First Midwest capital stock or enter into any agreement to merge or consolidate First Midwest or any of its subsidiaries with another person, in connection with the exercise of the board of directors’ judgment in determining First Midwest’s best interests and the best interests of its stockholders, the Certificate of Incorporation requires the board of directors to consider, in addition to the adequacy of the amount to be paid in connection with any such transaction, the following factors and any other factors it deems relevant:
•the social and economic effects of the transaction on First Midwest and its subsidiaries, including First Midwest’s employees, depositors, loan and other customers and creditors and those of its subsidiaries and the communities in which First Midwest and its subsidiaries operate or are located; and
•the business and financial condition and the earning prospects of any prospective acquiring person and the possible effect of such conditions on First Midwest and its subsidiaries and the communities in which First Midwest and its subsidiaries operate or are located; and
•the competence, experience, and integrity of any prospective acquiring person and its management.
Issuance of Preferred Stock to Deter Takeover Attempts
The Certificate of Incorporation provides the board of directors with as much flexibility as possible in using such shares for corporate purposes.  However, these additional shares may also be used by the board of directors to deter future attempts to gain control of First Midwest.  The board of directors has sole authority to determine the terms of any series of preferred stock, including voting rights, conversion rates and liquidation preferences.  As a result of the ability to fix voting rights for a series of preferred stock, the board of directors has the power to issue a series of preferred stock to persons friendly to management.  Such an issuance could be used by the board of directors in an attempt to block a post-tender offer merger or other transaction by which a third party seeks a change in control of First Midwest.
4arcb_EX_4_1

		

			Exhibit 4.1

		

		
			DESCRIPTION OF COMMON STOCK 
		

		
			General
		

		
			ArcBest Corporation (“ArcBest,” “we,” “us,” or “our”) is incorporated in the state of Delaware. The rights of ArcBest’s stockholders are generally covered by Delaware law and our restated certificate of incorporation (“Certificate of Incorporation”) and fifth amended and restated bylaws (“Bylaws”) (each as amended and restated in effect as of the date hereof). The terms of our common stock are therefore subject to Delaware law, including the Delaware General Corporation Law  (the “DGCL”), and the common and constitutional law of Delaware.
		

		
			This exhibit describes the general terms of our common stock. This is a summary and does not purport to be complete. Our Certificate of Incorporation and Bylaws as they exist on the date of this Annual Report on Form 10-K are incorporated by reference or filed as an exhibit to the Annual Report on Form 10-K of which this exhibit is a part, and amendments or restatements of each will be filed with the Securities and Exchange Commission (the “SEC”) in future periodic or current reports in accordance with the rules of the SEC. You are encouraged to read those documents.
		

		
			For more detailed information about the rights of our common stock, you should refer to our Certificate of Incorporation, Bylaws and the applicable provisions of Delaware law, including the DGCL.
		

		
			Authorized Capital Stock
		

		
			Our authorized capital stock is 80,000,000 shares. Those shares consist of: (1) 10,000,000 shares of preferred stock, par value $0.01 per share, none of which are outstanding; and (2) 70,000,000 shares of common stock, par value $0.01 per share, of which 25,367,197 shares were outstanding as of February 21, 2020.  
		

		
			Common Stock  
		

		
			Dividends 
		

		
			Subject to the rights of any then outstanding shares of preferred stock that we may issue, the holders of our common stock may receive such dividends as our board of directors (“Board”) may declare in its discretion out of legally available funds. 
		

		
			Fully Paid 
		

		
			All outstanding shares of common stock are fully paid and non-assessable. Any additional shares of common stock that we issue will also be fully paid and non-assessable. 
		

		
			Voting Rights 
		

		
			Subject to any special voting rights of any series of preferred stock that we may issue in the future, the holders of our common stock may vote one vote for each share held in the election of directors and on all other matters voted upon by our stockholders. Under our  Bylaws, unless otherwise required by our Certificate of Incorporation or Delaware law, action by our stockholders is taken by the affirmative vote of the holders of a majority of the votes cast, except for elections of directors, which are determined by a plurality of the votes cast, at a meeting of stockholders at which a quorum is present. Holders of common stock may not cumulate their votes in the elections of directors. 
		

		
			

		 

		

			US 6925582

		

		

		
			Other Rights 
		

		
			We will notify common stockholders of any stockholders’ meetings according to applicable law. If we liquidate, dissolve or wind-up our business, either voluntarily or not, holders of our common stock will share equally in our net assets upon liquidation after payment or provision for all liabilities and any preferential liquidation rights of any preferred stock then outstanding. The holders of common stock have no preemptive rights to purchase shares of our common stock. Shares of common stock are not subject to any redemption or sinking fund provisions and are not convertible into any of our other securities.
		

		
			Preferred Stock 
		

		
			Our Board can, without approval of our stockholders, issue one or more series of preferred stock. Subject to the provisions of our Certificate of Incorporation and limitations prescribed by law, our Board may adopt resolutions to issue the shares of preferred stock, to fix the number of shares, and to change the number of shares constituting any series and establish the voting powers, designations, preferences and relative participating, optional or other special rights, qualifications, limitations or restrictions thereof, including dividend rights (including whether dividends are cumulative), dividend rates, terms of redemption (including sinking fund provisions), redemption prices, conversion rights and liquidation preferences of the shares constituting any series of preferred stock, in each case without any further action or vote by our stockholders. Under certain circumstances, preferred stock could restrict dividend payments to holders of our common stock. No shares of our preferred stock are currently outstanding. The preferred stock will, when issued, be fully paid and non-assessable.
		

		
			Undesignated or “blank check”  preferred stock may enable our Board to render more difficult or to discourage an attempt to obtain control of us by means of a tender offer, proxy contest, merger or otherwise, and to thereby protect the continuity of our management. The issuance of shares of preferred stock may adversely affect the rights of the holders of our common stock or any existing preferred stock. For example, any preferred stock issued may rank prior to our common stock or any existing preferred stock as to dividend rights, liquidation preference or both, may have full or limited voting rights and may be convertible into shares of common stock or any existing preferred stock. As a result, the issuance of shares of preferred stock may discourage bids for our common stock or may otherwise adversely affect the market price of our common stock or any existing preferred stock. 
		

		
			Anti-Takeover Provisions 
		

		
			Certain provisions in our Certificate of Incorporation and Bylaws may encourage persons considering unsolicited tender offers or other unilateral takeover proposals to negotiate with the Board rather than pursue non-negotiated takeover attempts. 
		

		
			Blank Check Preferred Stock 
		

		
			As discussed herein, our Certificate of Incorporation authorizes the issuance of blank check preferred stock from time to time in one or more series. The Board can set the powers, voting powers, designations, preferences and relative, participating, optional or other rights, if any, of each series of preferred stock and the qualifications, limitations or restrictions, if any, of such preferences and/or rights relating to such preferred stock and could issue such stock in either private or public transactions. In some circumstances, the blank check preferred stock could be issued and have the effect of preventing a merger, tender offer or other takeover attempt that the Board opposes. 
		

		
			Business Combinations Under the DGCL 
		

		
			We are a Delaware corporation and are subject to Section 203 of the DGCL. Section 203 prevents a person who, together with any affiliates or associates of such person, beneficially owns, directly or indirectly, 15% or more of our outstanding voting stock (an “interested stockholder”) from engaging in certain business combinations with us for three years following the date that the interested stockholder became an interested stockholder. These restrictions do not apply if: 
		

		
			

		 

		

			
	
			
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			before the person became an interested stockholder, our Board approved either the business combination or the transaction in which the interested stockholder became an interested stockholder; 

		
			 
		

			
	
			
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			upon completion of the transaction that resulted in the interested stockholder becoming an interested stockholder, the interested stockholder owns at least 85% of our outstanding voting stock at the time the transaction commenced, excluding stock held by directors who are also officers of the corporation and stock held by certain employee stock plans; or 

		
			 
		

			
	
			
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			at or subsequent to such time the interested stockholder became an interested stockholder, the business combination is approved by our Board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding voting stock that is not owned by the interested stockholder. 

		
			 
		

		
			In general, Section 203 defines a “business combination” to include (1) any merger or consolidation involving the corporation or any majority-owned subsidiary of the corporation and an interested stockholder; (2) any sale, lease, transfer, pledge or other disposition involving an interested stockholder of 10% or more of the assets of the corporation; (3) subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation or any majority-owned subsidiary of the corporation of any stock of the corporation or such subsidiary to an interested stockholder; (4) any transaction involving the corporation or any majority-owned subsidiary of the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation or any such subsidiary beneficially owned by the interested stockholder; or (5) the receipt by an interested stockholder of any loans, guarantees, pledges or other financial benefits provided by or through the corporation or any majority-owned subsidiary of the corporation. 
		

		
			Choice of Forum
		

		
			Our Bylaws provide that unless ArcBest consents in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of ArcBest, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director or officer or other employee of ArcBest to ArcBest or ArcBest’s stockholders, (iii) any action asserting a claim against ArcBest or any director or officer or other employee of ArcBest arising pursuant to any provision of the DGCL or our Certificate of Incorporation or Bylaws, or (iv) any action asserting a claim against ArcBest or any director or officer or other employee of ArcBest governed by the internal affairs doctrine shall be the Court of Chancery of the State of Delaware or, if the Court of Chancery does not have jurisdiction, a state court located within the State of Delaware or, if no state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware.
		

		
			Special Certificate of Incorporation and Bylaw Provisions 
		

		
			Election of Directors; Resignation Policy
		

		
			Our Bylaws provide that all directors are to be elected annually by a plurality vote. Without changing the requirement for a plurality vote in the election of directors, our Bylaws also provide that any director in an uncontested election who does not receive the affirmative vote of a majority of the votes cast must promptly tender his or her resignation to the Board following certification of the stockholder vote. The Nominating/Corporate Governance Committee will consider any resignation tendered under this policy and recommend to the Board whether to accept or reject it, and the Board will act on such resignation within 90 days following the certification of the election results.
		

		
			

		 

		

		
			Advance Notice Requirements
		

		
			Our Bylaws contain provisions requiring that advance notice be delivered to the secretary of ArcBest of any business to be brought by a stockholder before an annual or special meeting of stockholders, including the nomination and election of directors. Generally, such advance notice provisions provide that the stockholder must give written notice to the secretary of ArcBest not earlier than 120 days and not later than 90 days prior to the first anniversary date of the annual meeting for the preceding year in the case of an annual meeting and not later than the close of business on the tenth day following the first day on which the date of the special meeting is publicly announced in the case of a special meeting. The notice must set forth specific information regarding such stockholder and such business or director nominee, as described in our Bylaws. Such requirement is in addition to those set forth in the regulations adopted by the SEC under the Exchange Act. 
		

		
			Board Composition and Filling Vacancies
		

		
			Our Bylaws provide that the number of directors shall be fixed from time to time by resolution of the Board. Each director shall hold office for the term for which that individual is elected and thereafter until that individual’s successor is elected or until such individual's earlier death, resignation, retirement, disqualification or removal. In the event of a vacancy of the Board, the remaining directors exclusively, by vote of a majority thereof, have the right to fill the vacancy.
		

		
			Actions by Stockholders
		

		
			No Written Consent of Stockholders.  Our Certificate of Incorporation provides that any action required or permitted to be taken by stockholders must be taken at an annual or special meeting of such stockholders and may not be taken by any consent in writing of such stockholders. 
		

		
			Special Meetings.  Special meetings of the stockholders for any purpose or purposes may be called at any time by the Chairman of the Board, by resolution adopted by the affirmative vote of the majority of the Board, or our President. 
		

		
			Amendment.  Our Bylaws may be amended by the affirmative vote of the Board or by the affirmative vote of the holders of at least 75% of the stock issued and outstanding and entitled to vote thereon. Our Certificate of Incorporation may be amended by the affirmative vote of the holders of at least 66-2/3% of our outstanding voting stock. 
		

		
			Mergers and Consolidations. A merger or consolidation of ArcBest with or into any other corporation, or the sale or other disposition of all or substantially all of the assets of ArcBest to or with any other corporation, person or other entity, requires the affirmative vote of the holders of at least 66-2/3% of our outstanding voting stock.
		

		
			The foregoing provisions of our Certificate of Incorporation and Bylaws, together with the provisions of Section 203 of the DGCL, could have the effect of delaying, deferring or preventing a change in control or the removal of existing management, of deterring potential acquirors from making an offer to our stockholders and of limiting any opportunity to realize premiums over prevailing market prices for our common stock in connection therewith. This could be the case notwithstanding that a majority of our stockholders might benefit from such a change in control or offer. 
		

		
			

		 

		

		
			Limitation of Liability of Officers and Directors 
		

		
			Our Certificate of Incorporation limits the liability of directors to us and our stockholders to the fullest extent permitted by Delaware law. Specifically, our directors will not be personally liable for monetary damages for breach of a director's fiduciary duty in such capacity, except for liability: 
		

			
	
			
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			for any breach of the director’s duty of loyalty to us or our stockholders; 

		
			 
		

			
	
			
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			for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;

		
			 
		

			
	
			
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			for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the DGCL; or 

		
			 
		

			
	
			
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			for any transaction from which the director derived an improper personal benefit. 

		
			The inclusion of this provision in our Certificate of Incorporation may reduce the likelihood of derivative litigation against our directors, and may discourage or deter stockholders or management from bringing a lawsuit against our directors for breach of their duty of care, even though such an action, if successful, might have otherwise benefitted us and our stockholders. Our Certificate of Incorporation provides indemnification to our officers and directors and certain other persons with respect to certain matters to the maximum extent allowed by Delaware law as it exists now or may hereafter be amended. These provisions do not alter the liability of officers and directors under federal securities laws and do not affect the right to sue (nor to recover monetary damages) under federal securities laws for violations thereof.  
		

		
			Listing 
		

		
			Our outstanding shares of common stock are listed on The Nasdaq Global Select Market under the symbol “ARCB.” 
		

		
			Transfer Agent and Registrar 
		

		
			Our transfer agent and registrar of the common stock is Equiniti Trust Company.

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