Form 4: Director Thomas Lynn Brown Increases Holdings in Old National Bancorp Through Deferred Compensation Plans

Director Thomas Lynn Brown acquired additional phantom stock in Old National Bancorp through deferred compensation plans and dividend reinvestments.

Summary

• Thomas Lynn Brown, a director at Old National Bancorp, has reported changes in his beneficial ownership of the company's stock.
• These changes primarily involve the acquisition of phantom stock through two deferred compensation plans.
• The first plan is the First Midwest Bancorp, Inc. Deferred Compensation Plan for Nonemployee Directors, where shares are acquired as a result of deferred quarterly director fees.
• The second plan is the Old National Bancorp Directors' Deferred Compensation Plan, where shares are acquired from the deferred equity portion of the director's 2024 annual compensation.
• Additionally, Brown acquired shares through dividend reinvestment features of both plans.
• Specifically, 4,565 shares of phantom stock were acquired on November 14, 2024, at a price of $21.9079 per share, under the Old National Bancorp plan.
• Between September 16, 2023 and September 16, 2024, 207 shares were acquired through dividend reinvestment in the First Midwest plan and 227 shares were acquired through dividend reinvestment in the Old National plan.

Sentiment

Score: 7

Explanation: The document reflects a positive sentiment due to the director's increased investment in the company, but it is a routine filing and not a major event.

Positives

• The director's increased stake in the company through deferred compensation plans and dividend reinvestments demonstrates confidence in the company's future.
• The use of deferred compensation plans aligns the director's interests with those of long-term shareholders.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is common in the financial services industry.

Comparison to Industry Standards

• Deferred compensation plans are a common practice for directors in the banking industry, aligning their interests with the long-term performance of the company.
• Dividend reinvestment programs are also standard, allowing directors to increase their holdings without additional cash outlay.
• The reported transactions are consistent with typical director compensation and ownership practices in comparable financial institutions.

Stakeholder Impact

• The increased ownership by a director may be viewed positively by shareholders, indicating confidence in the company's prospects.

Key Dates

Keywords

Old National Bancorp, ONB, Thomas Lynn Brown, Director, Phantom Stock, Deferred Compensation, Dividend Reinvestment, Beneficial Ownership, SEC Form 4