Form 4: Old Second Bancorp EVP Donald Pilmer Reports Beneficial Ownership Changes

Donald Pilmer, EVP of Old Second Bancorp, reports changes in beneficial ownership of company stock due to profit sharing and 401-K plan allocations.

Summary

• Donald Pilmer, an EVP at Old Second Bancorp Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The reported transactions include acquisitions of Old Second Bancorp common stock through the Profit Sharing Plan and the Employee Salary and Savings Plan (401-K).
• Specifically, 1 share was allocated during the first quarter of 2024 and 1 share was allocated during the second quarter of 2024, pursuant to the Old Second Bancorp, Inc. Profit Sharing Plan and Trust.
• Additionally, 15 shares were allocated during the first quarter of 2024 and 13 shares were allocated during the second quarter of 2024, pursuant to the Old Second Bancorp, Inc. Employee Salary and Savings Plan.
• Pilmer also indirectly owns 1,450 shares through his spouse's IRA and directly owns 57,649 shares of Old Second Bancorp common stock.
• He also holds 34,836 Restricted Stock Units, comprised of 21,548 time-based and 13,288 performance-based units.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports transactions related to employee benefit plans, which are a normal part of executive compensation. There's no indication of unusual buying or selling activity that would suggest a strong positive or negative outlook.

Positives

• The acquisition of shares through employee benefit plans suggests confidence in the company's future performance.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Comparison to Industry Standards

• Comparing Pilmer's holdings and transactions to those of executives at similar regional banks like First Midwest Bancorp or Wintrust Financial can provide context on whether his ownership stake is typical.
• Analyzing the vesting schedules and performance metrics of his restricted stock units against industry benchmarks can reveal how Old Second Bancorp incentivizes its executives.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• Employees participating in the profit sharing and 401-K plans are directly impacted by the stock allocations.

Key Dates