Form 4: Old National Bancorp Director Tom Salmon Reports Acquisition of Phantom Stock and Common Stock
SEC Form 4 Filing
Director Tom Salmon reports acquisition of phantom stock and common stock in Old National Bancorp through a deferred compensation plan and dividend reinvestment.
Summary
- Tom Salmon, a director of Old National Bancorp, filed a Form 4 detailing changes in beneficial ownership.
- On July 5, 2024, Salmon acquired 320 shares of phantom stock through the Old National Bancorp Directors' Deferred Compensation Plan at a price of $16.865 per share.
- Between March 16, 2024, and June 17, 2024, Salmon also acquired 325 shares of Old National Bancorp common stock through the Dividend Reinvestment feature of the plan.
- Following these transactions, Salmon directly owns 37,506 shares of Old National Bancorp common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The director's continued investment in the company is a positive sign, but the filing itself is a routine disclosure.
Positives
- The director's participation in the dividend reinvestment plan shows confidence in the company's future.
Future Outlook
The document does not contain specific forward-looking statements, but the director's continued investment suggests a positive outlook.
Industry Context
Directors' stock ownership and participation in dividend reinvestment plans are common in the banking industry and are often seen as a positive signal to investors.
Comparison to Industry Standards
- Director ownership levels vary widely across the banking industry depending on company size, history, and individual director circumstances.
- Dividend reinvestment plans are a standard offering at many publicly traded banks, allowing shareholders, including directors, to increase their stake in the company over time.
- Comparing Salmon's holdings to other directors at peer banks would require further research into their individual filings and company disclosures.
Related Party Transactions
- The acquisition of phantom stock through the Directors' Deferred Compensation Plan is a related party transaction.
Stakeholder Impact
- The director's stock ownership can positively influence shareholder confidence.
Key Dates
| Date | Description |
|---|---|
| March 16, 2024 | Start date of common stock acquisition through Dividend Reinvestment feature. |
| June 17, 2024 | End date of common stock acquisition through Dividend Reinvestment feature. |
| July 5, 2024 | Date of phantom stock acquisition. |
| July 8, 2024 | Date of Form 4 filing. |
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