X0303 4 2009-12-03 0 0000314489 FIRST BUSEY CORP /NV/ BUSE 0001187967 AMBROSE JOSEPH M 201 WEST MAIN STREET URBANA IL 61801 1 0 0 0 Common Stock 2009-12-03 4 C 0 125000 4.00 A 184471 D Common Stock 3523 I Custodian for Children Common Stock 19.83 2006-01-21 2009-12-15 Stock Option 4500 4500 D Common Stock 19.55 2008-01-15 2015-12-15 Stock Option 4500 4500 D Common Stock 20.71 2009-01-21 2011-12-15 Stock Option 4500 4500 D Common Stock 17.12 2009-05-01 2015-12-15 Stock Option 7500 7500 D Common Stock 7.53 2010-06-01 2019-06-30 Stock Option 7500 7500 D Series A Convertible Preferred Stock 4.00 2009-12-03 4 C 0 5 0 D Common 125000 0 D As previously reported, on October 29, 2009, the reporting person purchased 5 shares of Series A Convertible Preferred Stock (?Preferred Stock?) from the Company. The Preferred Stock is perpetual and each share has a liquidation preference of $100,000. Pursuant to the terms of the Preferred Stock, following the required shareholder approval, the Preferred Stock is mandatorily convertible into shares of common stock at a conversion price of $4.00. On December 2, 2009, the Company?s stockholders approved the conversion of the Preferred Stock and on December 3, 2009, the Preferred Stock owned by the reporting person was converted into an aggregate of 125,000 shares of common stock. /s/ Joseph M. Ambrose 2009-12-04