Form 4: Old Second Bancorp EVP Gartelmann Acquires Restricted Stock Units

Richard A. Gartelmann JR, EVP of Old Second Bancorp, reports acquisition of restricted stock units and disposal of common stock.

Summary

• Richard A. Gartelmann JR, an EVP at Old Second Bancorp INC, filed a Form 4 detailing changes in beneficial ownership.
• On February 19, 2025, Gartelmann acquired 5,508 restricted stock units.
• These units consist of 2,754 time-based restricted stock units vesting on the third anniversary of the grant date and 2,754 performance-based restricted stock units that may vest between 0% to 175% depending on performance metrics.
• Gartelmann also disposed of an unspecified amount of Old Second Bancorp, Inc. Common Stock at $0.
• Following the transaction, Gartelmann directly owns 24,215.667 shares of Old Second Bancorp, Inc. Common Stock, indirectly owns 12,177 shares through a 401-K, and directly owns 2,658 shares.
• He also owns 17,828 restricted stock units, including 8,914 performance-based and 8,914 time-based units.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard disclosure of stock transactions by an executive.

Positives

• The acquisition of restricted stock units aligns the executive's interests with the company's performance.

Future Outlook

The vesting of the performance-based restricted stock units depends on the company's future performance based on compensation committee approved metrics.

Industry Context

Form 4 filings are routine disclosures for corporate insiders and provide transparency into their transactions in the company's securities.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation and ownership.

Key Dates

Keywords

Form 4, beneficial ownership, restricted stock units, Old Second Bancorp, Gartelmann, OSBC, EVP