Form 4: Old Second Bancorp CFO Reports Stock Transactions Following Vesting of Restricted Stock Units

Bradley S. Adams, CFO of Old Second Bancorp, reports acquisition and disposal of company stock related to the vesting of performance-based restricted stock units and subsequent tax withholding.

Summary

• On March 13, 2024, Bradley S. Adams, CFO of Old Second Bancorp, acquired 16,089 shares of Old Second Bancorp common stock upon the vesting of performance-based restricted stock units.
• These units were granted under the company's 2019 Equity Incentive Plan, as Amended and Restated, and vested upon achievement of performance goals.
• The reporting person also disposed of 4,713 shares on the same day to cover tax obligations related to the vesting of these restricted stock units at a price of $13.36.
• Following these transactions, Adams directly owns 121,757 shares of Old Second Bancorp common stock and 68,770 restricted stock units.
• Additionally, Adams indirectly owns 9,846 shares through a 401-k plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.

Positives

• The vesting of performance-based restricted stock units suggests that the company achieved its performance goals for the applicable period.

Industry Context

Form 4 filings are a routine part of the financial industry, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders by slightly diluting the stock.

Key Dates