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

Director Tom Salmon acquired 233 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 233 shares of phantom stock on December 6, 2024.
• The phantom stock was acquired through the Old National Bancorp Directors' Deferred Compensation Plan.
• These shares represent a 1-for-1 equivalent of Old National Bancorp common stock.
• The phantom stock was acquired as a result of quarterly director fees paid in cash to the participant.
• The phantom stock is payable in cash upon distribution to the participant according to the plan's terms.
• Following this transaction, Mr. Salmon directly owns 42,876 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 director compensation with the company's performance.
• The deferred compensation plan allows directors to accumulate shares over time.

Industry Context

This transaction is a routine part of director compensation practices in publicly traded companies, where deferred compensation plans are often used to align director interests with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans are a common practice for directors at publicly traded companies, including those in the financial sector.
• Many banks and financial institutions use similar plans to incentivize and retain board members.
• The use of phantom stock is a standard method for providing equity-based compensation without issuing actual shares immediately.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

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