Old Second Bancorp (OSBC) EVP gets 9,201-share award, tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OLD SECOND BANCORP INC executive vice president Donald Pilmer reported equity compensation-related transactions in company common stock. He acquired 9,201 shares at no cost through vesting of performance-based restricted stock units tied to the 2019 Equity Incentive Plan after performance goals were achieved above target, resulting in an additional 3,945 shares beyond a previously reported target amount. To cover tax withholding on the 9,201 vested shares, 2,720 shares were withheld by the issuer at a price of $19.91 per share, with the remaining shares added to his direct common stock holdings. Following these transactions, he reports directly holding 73,054 common shares, along with indirect holdings through a 401(k) plan, a profit-sharing plan, and his spouse’s IRA, and 39,498 restricted stock units.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Pilmer Donald
Role
EVP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Old Second Bancorp, Inc. Common Stock | 9,201 | $0.00 | -- |
| Tax Withholding | Old Second Bancorp, Inc. Common Stock | 2,720 | $19.91 | $54K |
| holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Old Second Bancorp, Inc. Common Stock — 66,573 shares (Direct);
Old Second Bancorp, Inc. Common Stock — 4,040 shares (Indirect, By 401-K Plan);
Restricted Stock Units — 39,498 shares (Direct)
Footnotes (1)
- Shares delivered to the reporting person pursuant to vesting of performance-based restricted stock units granted under the Old Second Bancorp, Inc. 2019 Equity Incentive Plan, as Amended and Restated and vested upon achievement of performance goals for the applicable performance period. The reporting person reported an acquisition of 5,256 on Form 4 filed February 21, 2023, which represented the number of shares that would be delivered if target performance was achieved during the performance period. Actual performance exceeded the target performance for the performance period which resulted in an additional grant of 3,945 shares. Represents shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of 9,201 previously reported performance-based restricted stock units, the remaining shares of which were issued and added to the reporting person's common stock holdings. Included in this total are 9,919 shares in the reporting person's name outright and 63,135 shares held in the reporting person's name in a brokerage account. These shares are held in the reporting person's spouse's IRA for which the reporting person is listed as a beneficiary.
FAQ
What did OSBC executive Donald Pilmer report in this Form 4 filing?
Donald Pilmer reported equity compensation activity, including vested performance-based restricted stock units and related tax withholding. He received 9,201 Old Second Bancorp common shares at no cost upon vesting, with a portion withheld to cover tax obligations and the remainder added to his direct holdings.
What are Donald Pilmer’s direct OSBC common stock holdings after these transactions?
After these transactions, he reports directly owning 73,054 Old Second Bancorp common shares. This total includes 9,919 shares in his name outright and 63,135 shares held in a brokerage account registered to him, reflecting the net result after the equity award and tax withholding.
What indirect Old Second Bancorp (OSBC) holdings does Donald Pilmer report?
He reports indirect ownership of Old Second Bancorp common stock through retirement and benefit accounts. These include shares held in a 401(k) plan, a profit-sharing plan, and 1,450 shares in his spouse’s IRA, for which he is listed as a beneficiary, alongside his direct holdings.
How many restricted stock units does Donald Pilmer hold in OSBC?
He reports holding 39,498 restricted stock units of Old Second Bancorp after the reported vesting event. These units represent additional potential future common shares, typically deliverable upon satisfaction of applicable vesting conditions under the company’s equity incentive arrangements.
Old Second Bancorp Inc Ill