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

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

Summary

• James A. Sandgren, the CEO of Commercial Banking at Old National Bancorp, acquired 46 shares of phantom stock on January 6, 2025.
• The phantom stock was acquired under the Old National Bancorp Executive Deferred Compensation Plan.
• These shares represent Old National Bancorp common stock on a 1-for-1 basis and will be paid in cash upon distribution according to the plan's terms.
• The price of the underlying common stock at the time of the transaction was $21.545 per share.
• Following this transaction, Mr. Sandgren directly owns 27,371 shares of Old National Bancorp common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally neutral to positive. It indicates that the executive is invested in the company's long-term success.

Industry Context

This transaction is a routine part of executive compensation practices within the financial services industry, where deferred compensation plans are common.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock awards, are a common practice among publicly traded financial institutions like Old National Bancorp.
• These plans are often used to align executive interests with long-term shareholder value and are comparable to those offered by peers such as Fifth Third Bancorp (FITB) and Huntington Bancshares (HBAN).

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with the company's performance.

Key Dates

Keywords

phantom stock, executive compensation, deferred compensation, Old National Bancorp, ONB, insider trading, Form 4, James A. Sandgren