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 60 shares of phantom stock under the company's Executive Deferred Compensation Plan on April 29, 2024.

Summary

• On April 29, 2024, James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 60 shares of phantom stock through the Old National Bancorp Executive Deferred Compensation Plan.
• These phantom stock shares are equivalent to shares of Old National Bancorp common stock on a 1-for-1 basis.
• The phantom stock was acquired at a price of $16.7554 per share.
• Following this transaction, Sandgren directly owns 25,837 shares of Old National Bancorp common stock.
• The phantom stock is payable in cash upon distribution to Sandgren according to the terms of the plan.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock aligns the executive's interests with the long-term performance of the company.
• The deferred compensation plan allows for tax-advantaged savings for the executive.

Future Outlook

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

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. This filing indicates a transaction related to executive compensation.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock or similar equity-based awards to align management's interests with shareholder value.
• Deferred compensation plans are a common tool used by financial institutions to attract and retain key executives.
• The specifics of the Old National Bancorp Executive Deferred Compensation Plan would need to be compared to similar plans at peer banks to assess its competitiveness.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, or creditors.
• It provides transparency regarding executive compensation.

Key Dates