Form 4: Old Second Bancorp CFO Acquires Restricted Stock Units

Bradley S. Adams, CFO & COO of Old Second Bancorp, reports acquisition of restricted stock units and disposition of common stock.

Summary

• On February 19, 2025, Bradley S. Adams, CFO & COO of Old Second Bancorp Inc., acquired 26,316 restricted stock units.
• The reporting person also disposed of an unspecified amount of Old Second Bancorp, Inc. Common Stock.
• Following the transaction, Adams directly owns 127,679 shares of Old Second Bancorp, Inc. Common Stock and indirectly owns 9,983 shares through a 401-k plan.
• Adams also owns 86,265 Restricted Stock Units, including 38,722 shares that are Restricted Stock Units and 47,543 shares that are Performance-based Restricted Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The acquisition of restricted stock units is generally positive, but the disposition of common stock introduces some uncertainty. The overall impact is likely to be moderate.

Positives

• The acquisition of restricted stock units by the CFO could be seen as a positive sign, indicating confidence in the company's future performance.

Negatives

• The disposition of common stock could be interpreted negatively, although the amount is not specified.

Risks

• The value of the restricted stock units is contingent on the company's performance and may not fully vest.
• The performance-based restricted stock units have a vesting range of 0% to 175%, indicating uncertainty in the final number of shares that will be received.

Future Outlook

The vesting of the restricted stock units is dependent on time and the company's performance, which will determine the actual number of shares received in the future.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's recent stock-related activities, which investors may interpret as a signal of the company's prospects.

Stakeholder Impact

• Shareholders may view the CFO's stock transactions as a signal of the company's prospects.
• Employees may be affected by the performance metrics tied to the vesting of the restricted stock units.

Next Steps

• Vesting of time-based restricted stock units on the third anniversary of the grant date.
• Potential vesting of performance-based restricted stock units based on compensation committee approved performance metrics.

Key Dates

Keywords

restricted stock units, Form 4, OSBC, Old Second Bancorp, insider trading, beneficial ownership, Adams, CFO