Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 143

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 143
---
, subject to provisions of the preferences of any preferred stock, the holders of common stock are entitled to receive, to the extent permitted by law, dividends as may be declared from time to time by the board of directors.                                                                                                                                                                                                                          
 The Bancorp Financial bylaws provide that dividends may be declared by the board of directors and paid in cash, in property, or in shares of Bancorp Financial’s common stock.                                                                                                                                                                                                                                                                                                                        | ​ | ​ | The Old Second charter provides that, subject to provisions of the preferences of any preferred stock, the holders of common stock are entitled to receive dividends if and when declared payable from time to time by the board of directors from any funds legally available therefor.                                                 
 The Old Second bylaws provide that dividends may be declared by the board of directors out of surplus or, if there is no such surplus, out of net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. However, no dividend will be declared or paid which would impair Old Second’s capital. | ​ |
| Number and Classification of Directors | ​ | ​ | Under the Bancorp Financial charter and bylaws, the Bancorp Financial board of directors must not be less than five nor more than nine members. The Bancorp Financial board of directors is currently comprised of five members.                                                                                                                                                                                                                                                                      
 Under the Bancorp Financial bylaws, the Bancorp Financial board of directors is divided into three classes, with each class consisting of an equal number of directors, to the extent possible.                                                                                                                                                                                                                                                                                                       | ​ | ​ | Under the Old Second charter and bylaws, the Old Second board of directors must not be less than five nor more than 25 members. The Old Second board of directors is currently comprised of 14 members.                                                                                                                                  
 Under the Old Second charter and bylaws, the Old Second board of directors is divided into three classes with each class consisting of an equal number of directors, or as nearly equal as possible.                                                                                                                                     | ​ |

95

TABLE OF CONTENTS

| ​                                     | ​ | ​ | BANCORP FINANCIAL                                                                                                                                                                                                                                                                                                                                                                                                                           | ​ | ​ | OLD SECOND                                                                                                                                                                                                                                                                                                                                                                                                                                                       | ​ |
| Election of Directors                 | ​ | ​ | Under the Bancorp Financial bylaws, each director generally is elected to serve for a term ending on the date of the third annual meeting following the annual meeting at which such director was elected.                                                                                                                                                                                                                                  
 Under the Bancorp Financial bylaws, directors are elected by a majority of the shares having voting