Company: OSBC
Filing Date: 2025-09-15
Form Type: 8-K
Source: 0000357173-25-000079
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Company: OLD SECOND BANCORP INC
Filing Date: 2025-09-15
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

Effective September 14, 2025, John Ladowicz, a member of the Board of Directors (the “ Board”) of Old Second Bancorp, Inc. (the “ Company”), resigned from the Board. Mr. Ladowicz submitted his resignation in accordance with the Company’s Director Resignation Policy, which requires that any person serving as a director submit his or her resignation as a director upon attaining the age of 73 during his or her tenure. As such, Mr. Ladowicz’s resignation is not the result of any disagreement with the Company. Mr. Ladowicz served on the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee, the Loan Committee, and the Risk and Insurance Committee. He has been a valuable Board member since 2008, and the Company appreciates his contributions during his tenure.

The Company does not anticipate immediately filling the vacancy on the Board caused by Mr. Ladowicz’s resignation and will reduce the size of the Board by one member. Following a recommendation from the Nominating and Corporate Governance Committee, the Board’s intent is to maintain the Board classes to be as nearly equal in number as possible. Accordingly, the Board realigned its Class I, II and III directors at its regularly scheduled meeting in February 2025, anticipating potential director retirements during 2025, including Mr. Ladowicz’s retirement.

Cautionary Statement Regarding Forward Looking Statements