Form 4: Old National Bancorp Executive Acquires Phantom Stock and Shares Through Deferred Compensation Plan

James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 46 shares of phantom stock and additional common stock through the company's Executive Deferred Compensation Plan.

Summary

• James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, reported a transaction on December 23, 2024.
• He acquired 46 shares of phantom stock under the Old National Bancorp Executive Deferred Compensation Plan.
• These phantom stock shares represent an equivalent number of Old National Bancorp common stock shares and will be paid in cash upon distribution.
• The report also includes 167 shares of Old National Bancorp common stock acquired between September 17, 2024 and December 16, 2024, through the Dividend Reinvestment feature of the plan.
• Following these transactions, Sandgren directly owns 27,325 shares of Old National Bancorp common stock.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative events. It is a routine filing, hence a neutral to slightly positive sentiment.

Positives

• The acquisition of phantom stock and common stock through the deferred compensation plan indicates continued alignment of executive interests with the company's performance.
• The dividend reinvestment shows a long-term commitment to the company's stock.

Industry Context

This filing is a routine disclosure of executive stock transactions, which is common in the financial services industry. It reflects standard practices for executive compensation and alignment with company performance.

Comparison to Industry Standards

• Executive compensation plans involving phantom stock and deferred compensation are common among publicly traded financial institutions like Old National Bancorp.
• Many banks, such as Fifth Third Bancorp and Huntington Bancshares, use similar deferred compensation plans to incentivize and retain key executives.
• The dividend reinvestment feature is also a standard practice, aligning executive interests with long-term shareholder value.

Stakeholder Impact

• The transactions show that the executive's interests are aligned with shareholders through stock ownership.
• The deferred compensation plan is a standard practice that is unlikely to have a significant impact on other stakeholders.

Key Dates

Keywords

Old National Bancorp, Executive Deferred Compensation Plan, Phantom Stock, Common Stock, Dividend Reinvestment, James A. Sandgren, ONB, SEC Form 4