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

James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 54 shares of phantom stock through the company's Executive Deferred Compensation Plan on September 30, 2024.

Summary

• James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, filed a Form 4 on October 2, 2024, reporting a transaction.
• On September 30, 2024, Sandgren acquired 54 shares of phantom stock under the Old National Bancorp Executive Deferred Compensation Plan.
• The phantom stock represents shares of Old National Bancorp common stock on a 1-for-1 basis and is payable in cash upon distribution.
• The price of the phantom stock was $18.635 per share.
• Following the transaction, Sandgren directly owns 26,877 shares of phantom stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation, and does not contain information that would significantly impact sentiment positively or negatively.

Positives

• The acquisition of phantom stock aligns the executive's interests with the company's performance.
• The deferred compensation plan provides a tax-advantaged way for executives to save for retirement.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Executive compensation plans, including deferred compensation and phantom stock, are common in the banking industry to attract and retain talent and align executive incentives with shareholder value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning executive compensation with company performance.

Key Dates