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

James Eccher, Chairman and CEO of Old Second Bancorp, reports acquisition of shares through vesting of restricted stock units and disposition of shares for tax withholding.

Summary

• On March 4, 2025, James Eccher, Chairman and CEO of Old Second Bancorp, acquired 30,203 shares of Old Second Bancorp common stock due to the vesting of performance-based restricted stock units.
• These units were granted under the company's 2019 Equity Incentive Plan and vested upon achievement of performance goals.
• Eccher also disposed of 8,848 shares to cover tax obligations related to the vesting at a price of $17.65 per share.
• Following these transactions, Eccher directly owns 322,840 shares and indirectly owns 32,258 shares through a 401-K, 6,247 shares through a profit sharing plan and 184,318 restricted stock units.
• The actual performance exceeded the target performance for the performance period which resulted in an additional grant of 12,945 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and does not inherently indicate positive or negative sentiment about the company's prospects. The fact that performance targets were exceeded is a positive.

Positives

• The vesting of performance-based restricted stock units indicates that performance goals were achieved, suggesting positive company performance.
• The actual performance exceeded the target performance for the performance period which resulted in an additional grant of 12,945 shares.

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.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring transparency and compliance with SEC regulations.
• Similar filings are made by executives at comparable financial institutions like First Midwest Bancorp and Wintrust Financial Corporation, reflecting standard corporate governance practices.

Stakeholder Impact

• The transactions have a minor impact on shareholders, as they reflect standard executive compensation practices.
• Employees may view the vesting of performance-based units positively, as it indicates achievement of company goals.

Key Dates