Form 4: Old National Bancorp Director Acquires Phantom Stock Through Deferred Compensation Plan

Director Tom Salmon acquired 4,565 shares of phantom stock in Old National Bancorp through the company's deferred compensation plan.

Summary

• Tom Salmon, a director at Old National Bancorp, acquired 4,565 shares of phantom stock on November 14, 2024.
• The acquisition was part of the Old National Bancorp Directors' Deferred Compensation Plan.
• The phantom stock was acquired as a result of deferring the equity portion of Mr. Salmon's 2024 annual director compensation.
• The price of the underlying common stock at the time of the transaction was $21.9079 per share.
• Following the transaction, Mr. Salmon directly owns 42,643 shares of phantom stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with the company's performance.

Positives

• The acquisition of phantom stock aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan allows directors to accumulate equity over time.

Industry Context

This is a routine transaction related to director compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans are a common practice for directors of publicly traded companies, including those in the financial sector.
• Many financial institutions use similar plans to align director compensation with company performance and long-term shareholder value.
• The use of phantom stock is a typical method for providing equity-based compensation to directors.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's long-term performance.

Key Dates

Keywords

phantom stock, deferred compensation, director compensation, Old National Bancorp, ONB, equity, insider trading