[8-K] Old Second Bancorp Inc Reports Material Event
Atlassian (TEAM) Form 4: CEO, co-founder and 10% owner Michael Cannon-Brookes sold a total of 7,765 Class A shares on 22 Jul 2025 under a pre-arranged Rule 10b5-1 plan adopted 20 Feb 2025.
The stock was disposed of in seven separate trades at weighted-average prices between $195.965 and $202.35, generating roughly $1.55 million in gross proceeds. Following the sales, the insider—through CBC Co Pty Ltd as trustee of the Cannon-Brookes Head Trust—continues to hold 375,585 Class A shares, maintaining more than 98% of his prior indirect position and his 10% beneficial-owner status.
No derivative activity or purchases were reported. Given the modest 2% reduction in holdings and the existence of a 10b5-1 plan, the transactions appear routine and are unlikely to materially alter insider alignment, though any CEO liquidation can create short-term sentiment pressure.
Atlassian (TEAM) Modulo 4: Il CEO, cofondatore e proprietario del 10% Michael Cannon-Brookes ha venduto un totale di 7.765 azioni di Classe A il 22 luglio 2025, nell'ambito di un piano predefinito Rule 10b5-1 adottato il 20 febbraio 2025.
Le azioni sono state cedute in sette operazioni separate a prezzi medi ponderati compresi tra 195,965 e 202,35 dollari, generando circa 1,55 milioni di dollari di ricavi lordi. Dopo la vendita, l'insider — tramite CBC Co Pty Ltd in qualità di trustee del Cannon-Brookes Head Trust — detiene ancora 375.585 azioni di Classe A, mantenendo oltre il 98% della sua precedente posizione indiretta e la sua quota di proprietà beneficiaria del 10%.
Non sono state segnalate attività su derivati o acquisti. Considerata la riduzione modesta del 2% delle partecipazioni e l'esistenza di un piano 10b5-1, le transazioni sembrano di routine e difficilmente altereranno significativamente l'allineamento degli insider, anche se qualsiasi liquidazione da parte del CEO può generare una pressione sul sentiment a breve termine.
Atlassian (TEAM) Formulario 4: El CEO, cofundador y propietario del 10% Michael Cannon-Brookes vendió un total de 7.765 acciones Clase A el 22 de julio de 2025 bajo un plan preestablecido Rule 10b5-1 adoptado el 20 de febrero de 2025.
Las acciones se dispusieron en siete operaciones separadas a precios promedio ponderados entre $195.965 y $202.35, generando aproximadamente $1.55 millones en ingresos brutos. Tras las ventas, el insider — a través de CBC Co Pty Ltd como fideicomisario del Cannon-Brookes Head Trust — continúa poseyendo 375.585 acciones Clase A, manteniendo más del 98% de su posición indirecta previa y su estatus de propietario beneficiario del 10%.
No se reportaron actividades con derivados ni compras. Dada la reducción modesta del 2% en las participaciones y la existencia de un plan 10b5-1, las transacciones parecen rutinarias y es poco probable que alteren materialmente la alineación interna, aunque cualquier liquidación por parte del CEO puede generar presión en el sentimiento a corto plazo.
Atlassian (TEAM) Form 4: CEO이자 공동 창립자이며 10% 소유주인 Michael Cannon-Brookes가 2025년 7월 22일 2025년 2월 20일 채택된 사전 승인된 Rule 10b5-1 계획에 따라 총 7,765주의 Class A 주식을 매각했습니다.
이 주식은 7건의 개별 거래로 처분되었으며, 가중 평균 가격은 $195.965에서 $202.35 사이였으며, 약 155만 달러의 총 수익을 창출했습니다. 매각 후 내부자는 CBC Co Pty Ltd를 통해 Cannon-Brookes Head Trust의 수탁자로서 375,585주의 Class A 주식을 계속 보유하여 이전 간접 보유량의 98% 이상과 10%의 실질 소유주 지위를 유지하고 있습니다.
파생상품 활동이나 매수는 보고되지 않았습니다. 보유 지분이 2% 소폭 감소했고 10b5-1 계획이 존재하므로 거래는 일상적인 것으로 보이며 내부자 정렬에 실질적인 변화를 주지는 않을 것으로 보이지만, CEO의 매도는 단기적으로 투자 심리에 압박을 줄 수 있습니다.
Atlassian (TEAM) Formulaire 4 : Le PDG, cofondateur et propriétaire de 10 % Michael Cannon-Brookes a vendu un total de 7 765 actions de classe A le 22 juillet 2025 dans le cadre d’un plan préétabli Rule 10b5-1 adopté le 20 février 2025.
Les actions ont été cédées en sept transactions distinctes à des prix moyens pondérés compris entre 195,965 $ et 202,35 $, générant environ 1,55 million de dollars de produit brut. Suite à ces ventes, l’initié — via CBC Co Pty Ltd en tant que fiduciaire du Cannon-Brookes Head Trust — détient toujours 375 585 actions de classe A, conservant plus de 98 % de sa position indirecte antérieure ainsi que son statut de propriétaire bénéficiaire à hauteur de 10 %.
Aucune activité sur dérivés ni achat n’a été signalé. Compte tenu de la réduction modeste de 2 % des participations et de l’existence d’un plan 10b5-1, ces transactions semblent routinières et devraient peu modifier l’alignement des initiés, bien que toute liquidation par le PDG puisse exercer une pression sur le sentiment à court terme.
Atlassian (TEAM) Formular 4: CEO, Mitbegründer und 10%-Eigentümer Michael Cannon-Brookes verkaufte am 22. Juli 2025 insgesamt 7.765 Class A Aktien im Rahmen eines vorab vereinbarten Rule 10b5-1 Plans, der am 20. Februar 2025 angenommen wurde.
Die Aktien wurden in sieben separaten Transaktionen zu gewichteten Durchschnittspreisen zwischen 195,965 und 202,35 USD veräußert, was etwa 1,55 Millionen USD Bruttoerlös einbrachte. Nach den Verkäufen hält der Insider – über CBC Co Pty Ltd als Treuhänder des Cannon-Brookes Head Trust – weiterhin 375.585 Class A Aktien und behält damit mehr als 98 % seiner vorherigen indirekten Position sowie seinen 10%-Eigentümerstatus.
Es wurden keine Derivataktivitäten oder Käufe gemeldet. Angesichts der moderaten 2%-Reduktion der Bestände und der Existenz eines 10b5-1 Plans erscheinen die Transaktionen routinemäßig und werden die Insider-Ausrichtung wahrscheinlich nicht wesentlich verändern, obwohl jede Liquidation durch den CEO kurzfristig den Marktstimmungsdruck erhöhen kann.
- Sale executed under a Rule 10b5-1 plan, reducing concerns about opportunistic timing.
- Insider retains 375,585 shares, maintaining substantial equity alignment with shareholders.
- CEO liquidated 7,765 shares worth ≈$1.55 m, which could cause minor negative sentiment.
- No offsetting insider purchases were disclosed in the period.
Insights
TL;DR: Small, pre-planned CEO sale; negligible impact on ownership or thesis.
The 7,765-share sale represents ~2% of Cannon-Brookes’ stake and less than 0.3% of daily TEAM volume, limiting market impact. Proceeds of ~$1.55 m are immaterial relative to his remaining ~$75 m holding. Executed under a February-adopted 10b5-1 plan, the transaction reduces signaling risk. From a valuation standpoint, the filing does not change cash flow, guidance, or strategic outlook; therefore I view the development as neutral.
TL;DR: Governance-compliant sale; insider still strongly aligned.
The filing demonstrates adherence to SEC Rule 10b5-1 best practices, with full price ranges disclosed and trustee ownership clarified. Retention of 375,585 shares preserves significant skin-in-the-game, supporting shareholder alignment. While any director sale draws attention, the minimal size and structured plan suggest routine liquidity rather than adverse insider insight. I classify the event as governance-neutral.
Atlassian (TEAM) Modulo 4: Il CEO, cofondatore e proprietario del 10% Michael Cannon-Brookes ha venduto un totale di 7.765 azioni di Classe A il 22 luglio 2025, nell'ambito di un piano predefinito Rule 10b5-1 adottato il 20 febbraio 2025.
Le azioni sono state cedute in sette operazioni separate a prezzi medi ponderati compresi tra 195,965 e 202,35 dollari, generando circa 1,55 milioni di dollari di ricavi lordi. Dopo la vendita, l'insider — tramite CBC Co Pty Ltd in qualità di trustee del Cannon-Brookes Head Trust — detiene ancora 375.585 azioni di Classe A, mantenendo oltre il 98% della sua precedente posizione indiretta e la sua quota di proprietà beneficiaria del 10%.
Non sono state segnalate attività su derivati o acquisti. Considerata la riduzione modesta del 2% delle partecipazioni e l'esistenza di un piano 10b5-1, le transazioni sembrano di routine e difficilmente altereranno significativamente l'allineamento degli insider, anche se qualsiasi liquidazione da parte del CEO può generare una pressione sul sentiment a breve termine.
Atlassian (TEAM) Formulario 4: El CEO, cofundador y propietario del 10% Michael Cannon-Brookes vendió un total de 7.765 acciones Clase A el 22 de julio de 2025 bajo un plan preestablecido Rule 10b5-1 adoptado el 20 de febrero de 2025.
Las acciones se dispusieron en siete operaciones separadas a precios promedio ponderados entre $195.965 y $202.35, generando aproximadamente $1.55 millones en ingresos brutos. Tras las ventas, el insider — a través de CBC Co Pty Ltd como fideicomisario del Cannon-Brookes Head Trust — continúa poseyendo 375.585 acciones Clase A, manteniendo más del 98% de su posición indirecta previa y su estatus de propietario beneficiario del 10%.
No se reportaron actividades con derivados ni compras. Dada la reducción modesta del 2% en las participaciones y la existencia de un plan 10b5-1, las transacciones parecen rutinarias y es poco probable que alteren materialmente la alineación interna, aunque cualquier liquidación por parte del CEO puede generar presión en el sentimiento a corto plazo.
Atlassian (TEAM) Form 4: CEO이자 공동 창립자이며 10% 소유주인 Michael Cannon-Brookes가 2025년 7월 22일 2025년 2월 20일 채택된 사전 승인된 Rule 10b5-1 계획에 따라 총 7,765주의 Class A 주식을 매각했습니다.
이 주식은 7건의 개별 거래로 처분되었으며, 가중 평균 가격은 $195.965에서 $202.35 사이였으며, 약 155만 달러의 총 수익을 창출했습니다. 매각 후 내부자는 CBC Co Pty Ltd를 통해 Cannon-Brookes Head Trust의 수탁자로서 375,585주의 Class A 주식을 계속 보유하여 이전 간접 보유량의 98% 이상과 10%의 실질 소유주 지위를 유지하고 있습니다.
파생상품 활동이나 매수는 보고되지 않았습니다. 보유 지분이 2% 소폭 감소했고 10b5-1 계획이 존재하므로 거래는 일상적인 것으로 보이며 내부자 정렬에 실질적인 변화를 주지는 않을 것으로 보이지만, CEO의 매도는 단기적으로 투자 심리에 압박을 줄 수 있습니다.
Atlassian (TEAM) Formulaire 4 : Le PDG, cofondateur et propriétaire de 10 % Michael Cannon-Brookes a vendu un total de 7 765 actions de classe A le 22 juillet 2025 dans le cadre d’un plan préétabli Rule 10b5-1 adopté le 20 février 2025.
Les actions ont été cédées en sept transactions distinctes à des prix moyens pondérés compris entre 195,965 $ et 202,35 $, générant environ 1,55 million de dollars de produit brut. Suite à ces ventes, l’initié — via CBC Co Pty Ltd en tant que fiduciaire du Cannon-Brookes Head Trust — détient toujours 375 585 actions de classe A, conservant plus de 98 % de sa position indirecte antérieure ainsi que son statut de propriétaire bénéficiaire à hauteur de 10 %.
Aucune activité sur dérivés ni achat n’a été signalé. Compte tenu de la réduction modeste de 2 % des participations et de l’existence d’un plan 10b5-1, ces transactions semblent routinières et devraient peu modifier l’alignement des initiés, bien que toute liquidation par le PDG puisse exercer une pression sur le sentiment à court terme.
Atlassian (TEAM) Formular 4: CEO, Mitbegründer und 10%-Eigentümer Michael Cannon-Brookes verkaufte am 22. Juli 2025 insgesamt 7.765 Class A Aktien im Rahmen eines vorab vereinbarten Rule 10b5-1 Plans, der am 20. Februar 2025 angenommen wurde.
Die Aktien wurden in sieben separaten Transaktionen zu gewichteten Durchschnittspreisen zwischen 195,965 und 202,35 USD veräußert, was etwa 1,55 Millionen USD Bruttoerlös einbrachte. Nach den Verkäufen hält der Insider – über CBC Co Pty Ltd als Treuhänder des Cannon-Brookes Head Trust – weiterhin 375.585 Class A Aktien und behält damit mehr als 98 % seiner vorherigen indirekten Position sowie seinen 10%-Eigentümerstatus.
Es wurden keine Derivataktivitäten oder Käufe gemeldet. Angesichts der moderaten 2%-Reduktion der Bestände und der Existenz eines 10b5-1 Plans erscheinen die Transaktionen routinemäßig und werden die Insider-Ausrichtung wahrscheinlich nicht wesentlich verändern, obwohl jede Liquidation durch den CEO kurzfristig den Marktstimmungsdruck erhöhen kann.
I
United States
Securities And Exchange Commission
Washington, D.C. 20549
FORM
Current Report
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Item 2.02 Results of Operations and Financial Condition
On July 23, 2025, Old Second Bancorp, Inc. (the “Company’s”) issued a press release announcing its financial results for the second quarter ended June 30, 2025, along with certain other financial information. Copies of the Company’s press release and loan portfolio disclosures are attached as Exhibits 99.1 and 99.2, respectively.
Item 9.01 Financial Statements and Exhibits
Exhibit No. | Description | |
99.1 | Press Release of Old Second Bancorp, Inc. dated July 23, 2025 | |
99.2 | Loan Portfolio Disclosures for Old Second Bancorp, Inc. dated June 30, 2025 | |
104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) |
2
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OLD SECOND BANCORP, INC. | ||
Dated: July 23, 2025 | By: | /s/ Bradley S. Adams |
Bradley S. Adams | ||
Executive Vice President, | ||
Chief Operating Officer and | ||
Chief Financial Officer | ||
3
FAQ
How many Atlassian (TEAM) shares did CEO Michael Cannon-Brookes sell?
What was the average sale price reported in the Form 4?
How many TEAM shares does the insider still own after the transactions?
Was the insider sale executed under a 10b5-1 trading plan?
Did the filing report any derivative security transactions?
What percentage of the insider’s holdings were sold?
