Old Second vice chair gets 8,858 RSU award
Old Second Bancorp vice chairman Gary S. Collins reported equity compensation changes and related tax withholding.
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Rhea-AI Filing Summary
Old Second Bancorp vice chairman Gary S. Collins reported equity compensation changes and related tax withholding. On February 17, 2026, he received a grant of 8,858 restricted stock units, each representing a right to one share of common stock. Half of these RSUs are time-based and vest on the third anniversary of the grant date, while the other half are performance-based and may ultimately vest between 0% and 175% of the original award, depending on compensation committee–approved performance metrics.
On February 21, 2026, the issuer withheld 2,784 shares at $20.57 per share to cover tax obligations upon vesting of 8,246 previously reported time-based RSUs, with the remaining vested shares added to Collins’s common stock holdings. The filing also updates his direct and indirect ownership positions, including shares held outright, in a brokerage account, IRAs, and a 401(k).
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Restricted Stock Units | 2,784 | $20.57 | $57K |
| Grant/Award | Restricted Stock Units | 8,858 | $0.00 | $0.00 |
| Holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| Holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| Holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
| Holding | Old Second Bancorp, Inc. Common Stock | -- | -- | -- |
Footnotes (5)
- F1. Each restricted stock unit represents a contingent right to receive one share of common stock. The reporting person was granted 8,858 restricted stock units on the date of the grant, 4,429 of which are time-based restricted stock units that vest on the third anniversary of the grant date, and 4,429 of which are performance-based restricted stock units that may vest and convert to shares within a range from 0% to 175% of the underlying performance-based restricted stock units originally awarded, depending on our compensation committee approved performance metrics. Vested shares, if any, will be delivered to the reporting person in 3 to 5 business days from the date of vesting.
- F2. Represents shares withheld by the issuer to satisfy applicable tax withholding obligations in connection with the vesting of 8,246 previously reported time-based restricted stock units, the remaining shares of which were issued and added to the reporting person's common stock holdings.
- F3. These shares are held in Mr. Collin's name outright.
- F4. These shares are held in Mr. Collin's name in a brokerage account.
- F5. Included in this total are 41,000 shares in a ROTH IRA and 37,256.085 in a traditional IRA.
FAQ
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What equity award did OSBC vice chairman Gary Collins receive on February 17, 2026?
How are the Old Second Bancorp performance-based RSUs for OSBC’s vice chairman structured?
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