Form 4: Old Second Bancorp EVP Gartelmann Reports Changes in Beneficial Ownership

Richard A. Gartelmann JR, EVP of Old Second Bancorp, reports changes in beneficial ownership of company stock through 401-K allocations and holdings of restricted stock units.

Summary

• Richard A. Gartelmann JR, an EVP at Old Second Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The report indicates the acquisition of 271 shares in the first quarter of 2024 and 110 shares in the second quarter of 2024 through the Old Second Bancorp Employee Salary and Savings Plan.
• As of the report, Gartelmann beneficially owns 12,074 shares indirectly through the 401-K plan.
• He also directly owns 24,215.667 shares jointly with his spouse and 16,383 restricted stock units, including both time-based (10,223 shares) and performance-based (6,160 shares) units.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing is a standard disclosure of stock transactions by an executive, primarily related to routine 401-K allocations. There's no indication of unusual or concerning activity.

Positives

• The report shows continued participation in the company's Employee Salary and Savings Plan, indicating confidence in the company's future.

Industry Context

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

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• Employees participating in the savings plan are impacted by the allocation of shares.

Key Dates