Company: OSBC
Filing Date: 2025-04-23
Form Type: S-4
Source: 0001104659-25-037832
Chunk: 41

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-23
Form: S-4
Chunk 41
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7.5% of the aggregate outstanding shares of Bancorp Financial common stock shall have properly notified Bancorp Financial of their intent to exercise appraisal rights under the DGCL; and (l) the execution of the Old Second employment agreements by Darin Campbell in the form attached to the merger agreement.

These conditions to the closing of the merger may not be fulfilled in a timely manner or at all, and, accordingly, the merger may not be completed. In addition, the parties can mutually decide to terminate the merger agreement at any time, before or after stockholder approval, or Old Second or Bancorp Financial may elect to terminate the merger agreement in certain other circumstances. See “The Merger Agreement — Termination of the Merger Agreement” and “The Merger Agreement — Effect of Termination” beginning on pages 73 and 74, respectively.

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**TABLE OF CONTENTS

If Bancorp Financial stockholders do not approve the stockholders agreement amendment proposal, Bancorp Financial may be required to obtain individual written consents from stockholders holding at least 66**

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% of the outstanding common stock in order to amend and terminate the Stockholders Agreement, which could delay the completion of the merger.

Under the merger agreement, Bancorp Financial is obligated to use its best efforts to amend and terminate the Stockholders Agreement, which is a condition to closing the merger. Bancorp Financial is seeking stockholder approval of the stockholders agreement amendment proposal as a streamlined and coordinated means of satisfying this closing condition.

There can be no assurance that the stockholders agreement amendment proposal will receive the required affirmative vote of at least 66 2 ∕ 3 % of the outstanding shares of Bancorp Financial common stock. If the proposal is not approved at the special meeting, the alternative process of obtaining separate written consents could be time-consuming, uncertain, and may delay or jeopardize the timely completion of the merger.

Failure to complete the merger could negatively impact Old Second and Bancorp Financial.

If the merger is not completed for any reason, including as a result of Bancorp Financial stockholders failing to approve the Bancorp Financial merger proposal, there may be various adverse consequences, and Old Second and/or Bancorp Financial may experience negative reactions from the financial markets and from their respective customers and personnel. For example, Old Second’s or Bancorp Financial’s businesses may have been impacted adversely by the failure to pursue other attractive or otherwise opportunistic or beneficial opportunities due to the