Company: OSBC
Filing Date: 2025-04-23
Form Type: S-4
Source: 0001104659-25-037832
Chunk: 141

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-23
Form: S-4
Chunk 141
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 experience and integrity of the acquiring person and/or its management; and any antitrust or other legal or regulatory issues raised by the transaction;

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The Old Second charter also restricts the repurchase of voting stock from a substantial stockholder at a price above the market value unless approved by at least two-thirds of the disinterested stockholders or unless certain limited exceptions apply; and

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Generally, an amendment of the Old Second charter must be approved by a majority vote of the board of directors and also by a majority vote of the outstanding shares of Old Second common stock; provided, however, that an affirmative vote of at least 75% of the outstanding voting stock entitled to vote is required to amend or repeal certain provisions of the Old Second charter, including provisions (a) concerning directors, (b) governing the purchase by Old Second of its voting stock, (c) relating to considerations of the board of directions in evaluating acquisition proposals, (d) limiting business combinations with interested stockholders, (e) limiting Old Second stockholders’ ability to act by written consent, and (f) regarding amendment of the foregoing supermajority provisions of our Charter. The Old Second bylaws may be amended by vote of a majority of the board of directors.

#### Delaware Law.
Old Second has not elected to opt out of the applicability of Section 203 of the DGCL in its Charter. Under Section 203 of the DGCL, subject to exceptions, Old Second is prohibited from engaging in any business combination with any interested stockholder for a period of three years following the time that the stockholder became an interested stockholder. For this purpose, an “interested stockholder” generally includes current and certain former holders of 15% or more of Old Second’s outstanding voting stock. A “business combination” includes certain mergers, asset sales and other transactions resulting in a financial benefit to the interested stockholder.

The three-year prohibition does not apply if: (1) the business combination or the transaction that resulted in the person becoming an interested stockholder is approved by the board of directors of Old Second prior to the date the interested stockholder acquired such status; (2) upon consummation of the transaction in which the person became an interested stockholder, the stockholder owns at least 85% of the voting stock outstanding at the time the transaction commenced (excluding shares held by directors who are also officers and certain employee benefit plans); or (3) the business combination is approved by the board of directors and authorized at a stockholder meeting by the affirmative