Form 4: OSBC Director Sells Shares Under 10b5-1 Plan

Old Second Bancorp Director John Ladowicz sold 4,762 shares of common stock in pre-planned transactions.

Summary

• John Ladowicz, a Director of Old Second Bancorp Inc. (OSBC), reported the sale of common stock.
• On January 15, 2026, Ladowicz sold 2,897 shares at a price of $20.941 per share.
• On the same date, Ladowicz sold an additional 1,865 shares at a price of $20.96 per share.
• The total number of shares sold was 4,762.
• These transactions were conducted pursuant to a Rule 10b5-1(c) plan, indicating they were pre-scheduled.
• Following these transactions, Ladowicz beneficially owns 327,770 shares of Old Second Bancorp Inc. common stock, held directly and indirectly through an IRA.

Sentiment

Score: 5

Explanation: A director selling shares, even under a pre-planned 10b5-1 arrangement, is generally neutral to slightly negative as it represents a reduction in insider holdings. However, the pre-planned nature mitigates strong negative sentiment, and the director retains significant ownership.

Positives

• The transactions were executed under a Rule 10b5-1 plan, which suggests the sales were pre-scheduled and not based on new, non-public information.
• Director Ladowicz retains a significant beneficial ownership of 327,770 shares in Old Second Bancorp Inc. after the sales.

Negatives

• A director selling shares, even under a 10b5-1 plan, can sometimes be perceived as a slight negative signal regarding insider sentiment.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends. It reflects a director's personal portfolio management within the banking sector.

Stakeholder Impact

• Shareholders: The sale by a director, even if pre-planned, could be interpreted by some shareholders as a minor signal regarding insider sentiment, though the impact is likely minimal given the 10b5-1 plan and retained ownership.

Key Dates

Recommendation

The filing reports a routine, pre-planned sale of shares by a director under a 10b5-1 plan. This type of transaction is generally not indicative of new material information and does not provide a strong basis for a change in investment thesis. The director retains a substantial holding, suggesting continued alignment with shareholder interests. Therefore, a 'hold' recommendation is appropriate as this specific filing does not present new information warranting a 'buy' or 'sell' decision.

Keywords

Old Second Bancorp, OSBC, John Ladowicz, Insider Trading, Form 4, Director Sale, Stock Sale, 10b5-1 Plan, Financial Services, Banking