Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 220

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 220
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 adopted January 24, 2008. The Plan is administered by the Board of Directors of the Company. Under the Plan, the Company may grant awards to its participating directors, officers and employees. Awards can include stock options, stock appreciation rights, restricted stock, restricted stock units, performance units,

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TABLE OF CONTENTS

Bancorp Financial, Inc. and Subsidiary Notes to Consolidated Financial Statements Note 9. Incentive Compensation Plan (continued) performance shares and all other incentive awards as the Board of Directors of the Company determines in its sole discretion. The total number of shares of stock that could originally be issued under the Plan were 463,582 shares of authorized and unissued or issued and reacquired shares of stock of the Company. The number of shares of stock that could collectively be issued under the Plan pursuant to Incentive Stock Options was limited to 201,557. The exercise price of each option equals the fair market value, as defined in the Plan, of the Company’s stock on the date of grant and an option’s maximum term is ten years (five years if the participant owns or is deemed to own more than 10% of the total combined voting power of all classes of stock of the Company). Restricted shares granted to officers and directors typically vest over one to seven years. The original Plan expired in 2018 and ungranted shares also expired, however shares granted under the Plan remain outstanding and may still be issued. The Company adopted the 2017 Incentive Compensation Plan on September 20, 2017 (the 2017 Plan). The 2017 Plan increased the total number of shares of stock that the Company may issue as incentive awards by an additional 125,000 shares. In March of 2022, the Company added an additional 200,000 shares to the 2017 Plan. No other changes have been made to the 2017 Plan. Compensation cost relating to stock-based payment transactions is recognized in the consolidated financial statements with measurement based upon the fair value of the equity or liability instruments issued. For the years ended December 31, 2024 and 2023, the Company recognized $1,429,099 and $1,398,137, respectively, in compensation expense for stock options and restricted shares. The amount of unrecognized compensation expense at December 31, 2024 was approximately $4,238,446. There were no option grants in 2024 or 2023. The following table summarizes