Form 4: Old Second Bancorp CEO James Eccher Reports Share Transactions

James Eccher, Chairman and CEO of Old Second Bancorp, reports acquisition and disposal of shares related to vesting of performance-based restricted stock units and tax withholdings.

Summary

• On March 13, 2024, James Eccher, the Chairman and CEO of Old Second Bancorp, reported transactions involving Old Second Bancorp common stock.
• He acquired 30,714 shares upon the vesting of performance-based restricted stock units, with the shares valued at $0.
• Eccher also disposed of 8,998 shares to cover taxes related to the settlement of these restricted stock units, at a price of $13.36 per share.
• Following these transactions, Eccher directly owns 289,407 shares and indirectly owns 37,655 shares through a 401-K and profit sharing.
• He also holds 161,680 restricted stock units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to executive compensation. The vesting of shares is a positive signal, but the tax-related disposal is a neutral event.

Positives

• The vesting of performance-based restricted stock units suggests that the company achieved certain performance goals.

Negatives

• The disposal of shares to cover taxes resulted in a decrease in the number of shares directly held by the CEO.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.

Key Dates