Form 4: Old Second Bancorp Executive Reports Share Transactions

Gary S. Collins, Vice Chairman of Old Second Bancorp, reported transactions involving company stock, including acquisitions through a 401-K plan and holdings in various IRA accounts.

Summary

• Gary S. Collins, Vice Chairman of Old Second Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The transactions include the acquisition of 37 shares through the company's Salary & Savings Plan, allocated during the fourth quarter.
• Mr. Collins directly owns 46,624 shares held with a broker.
• He also indirectly owns 61,768.085 shares through a ROTH IRA and a traditional IRA.
• Additionally, Mr. Collins holds 50,330 restricted stock units, with 25,165 being time-based and 25,165 being performance-based.
• The time-based restricted stock units vest after a three-year period from the grant date.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative in itself. The sentiment is neutral to slightly positive due to the executive's continued investment in the company.

Positives

• The acquisition of shares through the company's savings plan indicates continued participation in company benefits.
• The reported holdings show a significant investment in the company by a key executive.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry and required by the SEC.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider trading.
• The reported transactions are typical for executives who participate in company stock plans and hold shares in retirement accounts.
• The vesting schedule of the restricted stock units is a common practice to incentivize long-term performance and retention.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive stock ownership.
• The transactions do not have a direct impact on employees, customers, or suppliers.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, IRA, 401-K, Old Second Bancorp, Executive Holdings