Form 4: Old National Bancorp Director Stephen C. Van Arsdell Reports Acquisition of Phantom Stock

Director Stephen C. Van Arsdell acquired phantom stock in Old National Bancorp through deferred compensation plans and dividend reinvestments.

Summary

• Stephen C. Van Arsdell, a director at Old National Bancorp, reported acquiring phantom stock through two deferred compensation plans.
• He acquired 4,565 shares of phantom stock on November 14, 2024, at a price of $21.9079 per share, through the Old National Bancorp Directors' Deferred Compensation Plan.
• These shares represent the deferred equity portion of his 2024 annual director compensation.
• Additionally, he acquired 15,554 shares of phantom stock through the First Midwest Bancorp, Inc. Deferred Compensation Plan, representing deferred quarterly director fees.
• Between September 16, 2023, and September 16, 2024, he also acquired 502 shares and 227 shares of Old National Bancorp common stock through dividend reinvestments in both plans respectively.
• The phantom stock is payable in cash upon distribution according to the terms of the plans.

Sentiment

Score: 7

Explanation: The document reflects standard insider transactions related to director compensation, which is generally neutral to positive. The use of deferred compensation and dividend reinvestment plans suggests a long-term commitment from the director.

Positives

• The acquisition of phantom stock through deferred compensation plans aligns director interests with the long-term performance of the company.
• Dividend reinvestments demonstrate a commitment to the company's stock.

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-based awards.

Comparison to Industry Standards

• Deferred compensation plans and dividend reinvestment programs are common practices for directors in the banking industry.
• Many financial institutions use similar methods to align the interests of their directors with the long-term performance of the company.
• The specific details of the plans, such as the vesting schedule and payout terms, would need to be compared to other companies to determine if they are in line with industry standards.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders as they align director interests with the company's performance.
• The transactions do not have a significant impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

phantom stock, deferred compensation, director compensation, dividend reinvestment, Old National Bancorp, ONB, Form 4, insider trading