Form 4: Old Second Bancorp EVP Gartelmann Reports Stock and Restricted Stock Unit Transactions

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 March 11, 2025, Gartelmann acquired 2,724 restricted stock units (RSUs).
• These RSUs consist of 1,362 time-based RSUs vesting on the third anniversary of the grant date and 1,362 performance-based RSUs that may vest between 0% to 150% depending on performance metrics.
• Gartelmann also disposed of 26,874 shares of Old Second Bancorp common stock.
• He directly owns 20,552 shares and indirectly owns 12,177 shares through a 401-K.

Sentiment

Score: 5

Explanation: This is a standard regulatory filing reflecting transactions by a company insider; it doesn't inherently convey positive or negative sentiment.

Future Outlook

The performance-based restricted stock units' vesting is contingent upon the company's performance against metrics approved by the compensation committee.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• Shareholders may be interested in insider transactions as an indicator of management's view of the company's prospects.

Key Dates

Keywords

Form 4, Beneficial Ownership, Restricted Stock Units, Common Stock, Old Second Bancorp, Gartelmann, OSBC