Monitor the next 10-Q for the full text of the separation agreement and any potential successor announcement for the Vice Chairman role. No immediate stock-moving catalyst.
Price Chart
Executive Summary
Vice Chairman Gary Collins notified Old Second Bancorp of his retirement effective October 31, 2026, and will resign from the boards of the company and bank. The departure is voluntary and not due to any disagreement; a separation agreement provides for approximately $211,150 in cash, full vesting of time-based RSUs, and pro-rata vesting of performance-based RSUs. This is a routine retirement of a senior officer with a standard separation package, not a red-flag departure.
Key Facts
- Gary Collins, Vice Chairman, notified the company of his retirement effective October 31, 2026.
- Collins will resign from the boards of Old Second Bancorp and Old Second National Bank upon termination.
- The retirement is not the result of any disagreement with the company or bank.
- Separation agreement provides lump sum cash payments totaling approximately $211,150.
- Collins will receive full vesting of outstanding unvested time-based RSUs and pro-rata vesting of performance-based RSUs.
- Restrictive covenants from his Executive Employment Agreement will continue to apply.
Financial Impact
Separation cash payment of approximately $211,150 plus accelerated equity vesting; immaterial relative to the company's market cap.
Risk Factors
- No named successor for the Vice Chairman role could create a temporary leadership gap in the boardroom.
- Accelerated equity vesting may result in modest dilution, though likely immaterial.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000357173-26-000052 |
| Document: 0000357173-26-000052-index-headers.html | 0000357173-26-000052 |
| Document: 0000357173-26-000052-index.html | 0000357173-26-000052 |
| Document: 0000357173-26-000052.txt | 0000357173-26-000052 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $24.71 | awaiting T+5 | — | $24.77 (+0.24%) |
Oct 20, 2026 6d ago | 8-K | $25.10 | awaiting T+5 | — | $24.77 (−1.31%) |
Oct 19, 2026 7d ago | 8-K | $25.10 | awaiting T+5 | — | $24.77 (−1.31%) |
Oct 8, 2026 18d ago | SC 13G | $24.86 $24.85 | ▼ −0.04% | ▲ +0.24% | $24.77 (−0.36%) |
Oct 1, 2026 25d ago | 8-K | $24.63 $24.86 | ▲ +0.93% | ▼ −0.37% | $24.77 (+0.57%) |
Sep 11, 2026 6w ago | Insider Cluster | $25.58 $24.99 | ▲ +2.31% | ▲ +2.09% | $24.77 (+3.17%) |
Sep 8, 2026 6w ago | Insider Cluster | $25.26 $24.98 | ▼ −1.11% | ▼ −0.01% | $24.77 (−1.94%) |
Aug 18, 2026 9w ago | S-3ASR | $25.66 $25.19 | ▼ −1.83% | ▼ −1.63% | $24.77 (−3.47%) |
Jul 21, 2026 13w ago | 8-K | $23.68 $24.72 | ▲ +4.39% | ▲ +5.62% | $24.77 (+4.60%) |
Jul 8, 2026 15w ago | 8-K | $22.71 $23.01 | ▲ +1.32% | ▲ +0.46% | $24.77 (+9.07%) |
US Market Status
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