Form 4: Old National Bancorp Director Tom Salmon Reports Acquisition of Phantom Stock and Common Stock

Director Tom Salmon reports acquisition of phantom stock and common stock in Old National Bancorp through deferred compensation and dividend reinvestment.

Summary

• Tom Salmon, a director of Old National Bancorp, reported acquiring 324 shares of phantom stock on April 5, 2024, through the Old National Bancorp Directors' Deferred Compensation Plan.
• These phantom stock shares represent common stock on a 1-for-1 basis and are payable in cash upon distribution.
• The price of the phantom stock was $16.632 per share.
• Between September 16, 2023, and March 15, 2024, Salmon also acquired 598 shares of Old National Bancorp common stock through the Dividend Reinvestment feature of the Plan.
• Following these transactions, Salmon beneficially owns 36,861 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 signal, but the filing itself is a routine disclosure.

Positives

• The director's participation in the deferred compensation plan and dividend reinvestment plan demonstrates confidence in the company's future.

Future Outlook

The document does not contain explicit forward-looking statements, but the director's continued investment suggests a positive outlook.

Industry Context

Directors' participation in deferred compensation and dividend reinvestment plans is a common practice in the banking industry, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation plans, including deferred stock options and dividend reinvestment, are standard practice among publicly traded banks like JP Morgan Chase, Bank of America, and Wells Fargo to incentivize long-term value creation.
• The level of stock ownership by directors is generally viewed positively by investors, as it aligns management's interests with those of shareholders.

Stakeholder Impact

• The director's stock acquisitions could be viewed positively by shareholders, signaling confidence in the company's performance.

Key Dates