OLD SECOND BANCORP INC 8-K

What Happened
Old Second Bancorp, Inc. (OSBC) filed an 8-K (Item 5.02) announcing that director John Williams, Jr. resigned from the Board effective July 7, 2026. Mr. Williams, Jr. submitted his resignation under the Company’s Director Resignation Policy, which requires directors to submit resignations upon attaining age 73 during their tenure. He served on the Risk and Insurance Committee and had been a Board member since 2021; the company states the resignation was not due to any disagreement.

Key Details

• Resignation effective: July 7, 2026 (filed in 8-K dated July 8, 2026).
• Director: John Williams, Jr.; Board service began in 2021; member of the Risk and Insurance Committee.
• Reason: Resignation submitted under the Company’s Director Resignation Policy upon reaching age 73; not the result of any disagreement with the company.
• Board actions: The Company does not plan to immediately fill the vacancy and will reduce the Board size by one; the Board (following the Nominating & Corporate Governance Committee) intends to keep Board classes as nearly equal in number as possible.

Why It Matters
This is a governance change that modestly reduces the size of the Board and affects committee composition (Risk and Insurance Committee). For investors, the filing signals routine succession under company policy rather than a governance dispute. Monitor future filings for any announcements about a replacement director or committee reassignments, which could affect board oversight.