Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LINDGREN KENNETH
   2. Issuer Name and Ticker or Trading Symbol
OLD SECOND BANCORP INC [OSBC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O DACO INCORPORATED, 609 AIRPORT RD.		 3. Date of Earliest Transaction (Month/Day/Year)
09/01/2009
(Street)

N. AURORA, IL 60542		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Old Second Bancorp Inc. Common Stock 09/01/2009   (1) M   1,455 A (3) 54,251 (2) D  
Old Second Bancorp Inc. Common Stock 09/01/2009   (1) D   1,455 A $ 5.33 52,796 D  
Old Second Bancorp Inc. Common Stock               2,000 I Spouse's Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock (3) 09/02/2009   (1) M     1,455   (1)   (1) Phantom Stock 8,730 (3) 8,730 D  
Employee Stock Option (Right to Buy) $ 7.49             02/17/2010 02/17/2019 Common Stock 1,500   1,500 D  
Employee Stock Option (Right to Buy) $ 27.75             12/18/2008 12/18/2017 Common Stock 1,500   1,500 D  
Employee Stock Option (Right to Buy) $ 29.2             12/16/2007 12/19/2016 Common Stock 1,500   1,500 D  
Employee Stock Option (Right to Buy) $ 31.34             12/20/2005 12/20/2015 Common Stock 1,500   1,500 D  
Employee Stock Option (Right to Buy) $ 32.59             12/20/2005 12/21/2014 Common Stock 1,500   1,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LINDGREN KENNETH
C/O DACO INCORPORATED
609 AIRPORT RD.
N. AURORA, IL 60542		   X      

Signatures

 /s/ Kenneth Lindgren   09/01/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Does not apply.
(2) Included in this total are 1,084 shares held in Mr. Lindgren's name alone; 48,446 shares held in Mr. Lindgren's name as Trustee and 2,670 shares held in nominee name and 596 shares of restricted stock units.
(3) Each share of Phantom Stock is the economic equivalent of one share of Old Second Bancorp Inc. Common stock. The reporting person settled 1455 shares of Phantom Stock for cash pursuant to the terms of the Old Second Bancorp Directors' Deferred Compensation Plan. This is part of a payout plan between Mr. Lindgren and the consulting group.

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