Old Second Bancorp (OSBC) director awarded RSUs, with shares withheld
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OLD SECOND BANCORP INC director Dennis L. Klaeser received a grant of 3,121 Restricted Stock Units under the company’s Long Term Incentive Plan, which have three-year cliff vesting. On vesting, 3,077 shares were disposed of at $20.57 per share to cover tax obligations, with the remaining shares added to his common stock holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
KLAESER DENNIS L
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Restricted Stock Units | 3,077 | $20.57 | $63K |
| Grant/Award | Restricted Stock Units | 3,121 | $0.00 | -- |
| holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 10,595 shares (Direct);
Old Second Bancorp, Inc. Common Stock — 7,657 shares (Direct);
Old Second Bancorp, Inc. Common Stock — 42,000 shares (Indirect, Trust)
Footnotes (1)
- These shares represent restricted stock units granted pursuant to the Old Second Bancorp, Inc. Long Term Incentive Plan. These shares have a three-year cliff vesting. Represents shares vested upon the third anniversary of the date of grant previously reported and are now issued and added to the reporting person's common stock holdings outright. Represents shares held in Mr. Klaeser's name outright.
FAQ
What insider transactions did OSBC director Dennis Klaeser report?
Dennis Klaeser reported a grant of 3,121 Restricted Stock Units and a disposition of 3,077 shares at $20.57 per share for tax withholding. These movements relate to equity compensation rather than open-market buying or selling of OLD SECOND BANCORP INC stock.
Was the OSBC insider transaction a stock sale in the open market?
No, the 3,077 shares at $20.57 were a tax-withholding disposition tied to vested Restricted Stock Units. This transaction settled tax obligations on equity compensation, not a discretionary open-market sale by Dennis Klaeser of OLD SECOND BANCORP INC shares.
How many Restricted Stock Units did the OSBC director receive?
Dennis Klaeser received 3,121 Restricted Stock Units at a stated price of $0.00 per unit. The award was granted under OLD SECOND BANCORP INC’s Long Term Incentive Plan and is subject to a three-year cliff vesting schedule before shares are issued outright.
What is the vesting schedule for Dennis Klaeser’s OSBC RSU grant?
The Restricted Stock Units granted to Dennis Klaeser vest on a three-year cliff schedule. After three years from the grant date, the units vest and are issued as common shares, which are then added to his OLD SECOND BANCORP INC common stock holdings outright.