Form 4: Old Second Bancorp Inc. Director Collins Reports Changes in Beneficial Ownership

Director Gary S. Collins reports acquisition of restricted stock units and changes in common stock holdings.

Summary

• Gary S. Collins, Vice Chairman and Director of Old Second Bancorp Inc., filed a Form 4 detailing changes in beneficial ownership.
• On March 20, 2024, Collins acquired 16,492 restricted stock units.
• These units consist of 8,246 time-based restricted stock units vesting on the third anniversary of the grant date and 8,246 performance-based restricted stock units.
• The performance-based units may vest and convert to shares within a range from 0% to 175% depending on performance metrics approved by the compensation committee.
• Collins directly owns 104,152.306 shares of Old Second Bancorp Inc. common stock.
• Collins indirectly owns 76,768.085 shares through an IRA and 5,894 shares through a 401-K.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of restricted stock units could align Collins' interests with the long-term performance of the company.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be informative for investors.

Stakeholder Impact

• Shareholders may be interested in the trading activity of company insiders as it can provide insights into management's view of the company's prospects.

Key Dates