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Get filing alertsOld Second Bancorp director Dennis Klaeser resigns; board to shrink by one seat
Filed June 9, 2026 · Period ending June 5, 2026 · ~1 min read
Key Changes
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Director Dennis Klaeser resigned from both the holding company and bank boards effective June 5, 2026, with no disagreement cited. He had served since 2021 on multiple committees including Audit, Compensation, and Risk.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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The company will not fill the vacancy and will reduce board size by one member rather than seek a replacement.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Old Second Bancorp disclosed the resignation of director Dennis Klaeser from both the holding company and subsidiary bank boards, effective June 5, 2026. The filing explicitly states the departure was not due to any disagreement with management or the company. Mr. Klaeser had served as a director since 2021 and participated on several key committees including Audit, Compensation, Risk, and Capital.
The company will not seek a replacement and will instead reduce its board size by one seat. This is a routine governance matter with no immediate concerns for shareholders. The explicit no-disagreement language and the company's decision to simply shrink the board rather than urgently recruit a replacement both suggest an amicable, planned transition rather than a contentious departure.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Old Second does not anticipate immediately filling the vacancy on the Board caused by Mr. Klaeser’s resignation and will reduce the size of the Board by one member.
The company will not replace Mr. Klaeser and will instead reduce the board size by one member. This represents a deliberate decision to operate with a smaller board rather than seeking a replacement director.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 29, 2026 · How we verify