Form 4: OSBC Director Sells Over $1M in Shares via 10b5-1 Plan

Darin Patrick Campbell, a Director and Officer of Old Second Bancorp Inc., sold a total of 57,565 shares of common stock for over $1 million through pre-arranged Rule 10b5-1 plans.

Summary

• Darin Patrick Campbell, a Director and President of Powersports Lending at Old Second Bancorp Inc. (OSBC), reported sales of common stock.
• On October 30, 2025, Campbell sold 26,406 shares at a price of $18.2659 per share, totaling approximately $482,601.
• On October 31, 2025, Campbell sold an additional 31,159 shares at a price of $17.8861 per share, totaling approximately $558,200.
• The total value of shares sold across both transactions is approximately $1,040,801.
• All reported sales were executed from shares held indirectly in an IRA.
• Following these transactions, Campbell's indirect beneficial ownership in an IRA is 0 shares, while his direct beneficial ownership stands at 309,680 shares.
• The transactions were made pursuant to a Rule 10b5-1 plan, indicating they were pre-scheduled.

Sentiment

Score: 4

Explanation: The sale of over $1 million in shares by a director and officer is a negative signal, even though it was pre-scheduled under a 10b5-1 plan. The reduction in insider holdings can weigh on investor sentiment, though the pre-planned nature mitigates some of the immediate concern about new negative information.

Positives

• The sales were conducted under a Rule 10b5-1 plan, which suggests the transactions were pre-scheduled and not based on recent material non-public information. This can mitigate the negative signal of an insider sale.

Negatives

• A significant sale of 57,565 shares by a Director and Officer, totaling over $1 million, could be perceived negatively by the market as it reduces insider ownership.
• The sales occurred at prices between $17.8861 and $18.2659, which might suggest the insider believes the current price is a good exit point.

Risks

• Increased selling pressure on the stock if other insiders follow suit or if the market interprets this sale as a lack of confidence.
• Potential negative investor sentiment due to a high-ranking insider reducing their stake.

Future Outlook

NA

Industry Context

This insider sale by a director and officer of a regional bank, Old Second Bancorp Inc., is a routine disclosure for executive compensation and personal financial planning. While the sale itself is specific to OSBC, insider transactions are closely watched across the financial services industry as indicators of management's confidence or personal liquidity needs.

Stakeholder Impact

• Shareholders: May experience negative sentiment due to a significant insider sale, potentially leading to short-term price pressure.

Key Dates

Recommendation

While the insider sale of over $1 million by a director and officer is a negative signal, the fact that it was executed under a Rule 10b5-1 plan suggests it was pre-scheduled and not based on new, material non-public information. This mitigates the immediate bearish interpretation. Investors should monitor future insider activity and company performance, but this single event, while notable, does not warrant an immediate 'sell' recommendation without further context on the company's fundamentals or other market factors. A 'hold' position is prudent to observe how the market digests this information and if any further insider activity or company news emerges.

Keywords

OSBC, Old Second Bancorp, insider trading, Form 4, stock sale, Darin Patrick Campbell, 10b5-1 plan, director, officer, financial services, banking