Company: OSBC
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001558370-25-004277
Chunk: 38

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 38
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 for our non-employee directors.Double Trigger Change in Control ProvisionsOur change in control provisions require a double trigger.Compensation ConsultantWe engage an independent compensation consultant to assist in the development of our executive compensation program and to provide information on market trends and developments.​What We Don’t DoNo Tax Gross-UpsWe do not provide our executive officers excise tax gross-ups on benefits or under any change in control provisions or agreements.No Excessive PerquisitesWe do not offer excessive perquisites and those perquisites we do offer are limited and primarily serve to enhance our executives’ business development activities.No Hedging or PledgingWe prohibit hedging of the pledging of our securities in a margin account or as collateral for a loan.No Repricing of OptionsOur Equity Incentive Plan prohibits repricing of underwater options without prior stockholder approval.Elements of CompensationOur named executive officers’ compensation program consists of four main components: (a) base salary, (b) annual cash incentives, (c) equity awards and (d) additional benefits.The Compensation Committee’s decisions regarding each of the components for the named executive officers are based in part on the Compensation Committee’s subjective judgment and consider qualitative and quantitative factors, as discussed below. In reviewing an executive officer’s compensation, the Compensation Committee considers and evaluates all components of the officer’s total compensation package. This involves reviewing base salary, cash incentives, equity incentive awards, perquisites, participation in our non-qualified executive plans, participation in our 401(k) plan and any other payments, awards or benefits that an officer earns. Additionally, the Compensation Committee takes into consideration any amounts an executive officer is entitled to upon retirement, termination or a change-in-control event.The following overview explains the structure and rationale of the elements of compensation used for 2024.Base Salary.The Compensation Committee believes that base compensation should offer security to each executive sufficient to maintain a stable management team and environment. In establishing an executive officer’s initial base salary the Compensation Committee considers, among other things, the executive’s level of responsibility, prior experience, breadth of knowledge, the competitive salary practices at peer companies, internal performance objectives, education, internal pay equity, potential bonus and equity awards, level of benefits and perquisites and the tax deductibility of base salary.
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#### ​The Compensation Committee reviews salaries of the named executive officers on an annual basis. As with all of its decisions regarding compensation levels, when reviewing salaries the Compensation Committee considers the levels of all aspects and components of the officer’s compensation, including the individual’s potential bonus