Old Second Bancorp Inc 8-K/A, filed Dec 20, 2024
Old Second Bancorp Inc (OSBC)
About this 8-K/A
Old Second Bancorp Inc filed this 8-K/A on December 20, 2024, reporting on events of December 17, 2024.
Items reported
- Item 8.01: Other events
I
United States
Securities And Exchange Commission
Washington, D.C. 20549
FORM
(AMENDMENT NO. 1)
Current Report
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Explanatory Note
On December 17, 2024, Old Second Bancorp, Inc. filed a Current Report on Form 8-K (the “Original Report”) announcing a common stock repurchase program. We are filing this amended report to correct an error regarding the title of the signatory of the Original Report. The disclosure is amended and restated with the signatory’s correct title below. No other changes have been made to the Original Report.
Item 8.01 | Other Events. |
The Board of Directors of Old Second Bancorp, Inc. (the “Company”) has authorized the repurchase of up to $39.1 million of shares of the Company’s common stock (the “Repurchase Program”). On December 16, 2024, the Federal Reserve Bank of Chicago (the “Federal Reserve”) informed us of their non-objection for the Repurchase Program. Repurchases by the Company under the Repurchase Program may be made from time to time through open market purchases, trading plans established in accordance with U.S. Securities and Exchange Commission rules, privately negotiated transactions, or by other means.
The actual means and timing of any repurchases, quantity of purchased shares and prices will be, subject to certain limitations, at the discretion of management and will depend on a number of factors, including, without limitation, market prices of the Company’s common stock, general market and economic conditions, and applicable legal and regulatory requirements. Repurchases under the Repurchase Program may be initiated, discontinued, suspended or restarted at any time; provided, that repurchases under the Repurchase Program after December 31, 2025 would require Federal Reserve non-objection or approval. The Company is not obligated to repurchase any shares under the Repurchase Program.
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. | |
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Dated: December 20, 2024 | By: | /s/ Bradley S. Adams |
| | Bradley S. Adams |
| | Executive Vice President, |
| | Chief Operating Officer, and |
| | Chief Financial Officer |