Form 4: EVP Gartelmann Boosts OSBC Stake via RSU Vesting

Old Second Bancorp EVP Richard A Gartelmann JR increased his direct beneficial ownership of company common stock following the vesting of performance-based restricted stock units.

Summary

• EVP Richard A Gartelmann JR acquired 4,523 shares of Old Second Bancorp, Inc. common stock on March 2, 2026, through the vesting of performance-based restricted stock units.
• This acquisition reflects performance exceeding target goals for the applicable period, resulting in an additional grant of 1,938 shares beyond the previously reported 2,585 target shares.
• Concurrently, 1,537 shares were withheld by the issuer at a price of $19.91 per share to cover tax withholding obligations related to the RSU vesting.
• Following these transactions, Gartelmann's direct beneficial ownership stands at 29,551 shares, with an additional 12,563 shares held indirectly via a 401-K.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a positive indicator, reflecting strong executive performance and alignment of interests, despite the routine tax-related share disposition.

Positives

• EVP Richard A Gartelmann JR received 4,523 shares from performance-based restricted stock units, indicating successful achievement of performance goals.
• Actual performance exceeded target performance, leading to an additional grant of 1,938 shares beyond the initial target of 2,585 shares.
• The executive's direct beneficial ownership increased to 29,551 shares, aligning management interests with shareholders.

Negatives

• 1,537 shares were disposed of (withheld) to satisfy tax obligations, reducing the net shares received by the executive.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that RSU vesting is a common form of executive compensation in the financial services industry, aligning executive incentives with long-term company performance. The exceeding of target performance suggests strong operational execution within Old Second Bancorp, Inc.

Comparison to Industry Standards

• Performance-based RSUs are a standard compensation practice across the banking sector, similar to those used by regional banks like Wintrust Financial Corporation (WTFC) or First Midwest Bancorp (FMBI) before its acquisition.
• The achievement of performance goals exceeding target levels is a positive indicator, comparable to strong performance metrics seen in well-managed regional banks during favorable market conditions.

Related Party Transactions

• The vesting of performance-based restricted stock units and subsequent share acquisition by EVP Richard A Gartelmann JR is a standard compensation practice between the company and its executive.

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholder value through increased stock ownership.
• Employees: Demonstrates the company's commitment to performance-based compensation.

Key Dates

Recommendation

The filing details a routine executive compensation event where performance-based restricted stock units vested, indicating the executive met or exceeded performance targets. While positive for management alignment and reflecting good company performance, this transaction alone does not provide sufficient new fundamental information to warrant a change in investment recommendation for Old Second Bancorp, Inc. A 'hold' recommendation is appropriate as it confirms ongoing executive commitment and performance without signaling a significant shift in the company's outlook.

Keywords

Old Second Bancorp, OSBC, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, Stock Ownership, Richard A Gartelmann JR