Form 4: Old National Bancorp Director Ryan C. Kitchell Acquires Phantom Stock and Common Stock

Director Ryan C. Kitchell acquired phantom stock and common stock in Old National Bancorp through a deferred compensation plan and dividend reinvestment.

Summary

• Ryan C. Kitchell, a director at Old National Bancorp, acquired 4,565 shares of phantom stock on November 14, 2024, as part of the company's Directors' Deferred Compensation Plan.
• This acquisition is a result of deferring the equity portion of his 2024 annual director compensation.
• Additionally, between June 18, 2024, and September 16, 2024, Mr. Kitchell acquired 352 shares of Old National Bancorp common stock through the Dividend Reinvestment feature of the same plan.
• Following these transactions, Mr. Kitchell now beneficially owns 33,727 shares of Old National Bancorp common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine insider transaction, which is generally viewed neutrally to slightly positive as it indicates director alignment with shareholder interests. There are no negative implications.

Positives

• The acquisition of phantom stock and common stock by a director demonstrates confidence in the company's future.
• The use of a dividend reinvestment plan shows a long-term commitment to the company.

Industry Context

This filing is a routine disclosure of insider transactions, which is common in the financial industry. Directors often receive compensation in the form of stock or stock options, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation plans involving phantom stock and dividend reinvestment are common practices among publicly traded companies, particularly in the financial sector.
• Many financial institutions use similar deferred compensation plans to attract and retain board members.
• The level of stock ownership by directors is often seen as a positive sign of alignment with shareholder interests, and the 33,727 shares held by Mr. Kitchell is within the expected range for a director of a company of this size.

Stakeholder Impact

• The transactions show that a director is invested in the company's success, which can be viewed positively by shareholders.
• The use of a dividend reinvestment plan can be seen as a positive sign of long-term commitment.

Key Dates

Keywords

Old National Bancorp, ONB, Director, Ryan C. Kitchell, Phantom Stock, Common Stock, Deferred Compensation, Dividend Reinvestment, SEC Form 4, Beneficial Ownership