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 43 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 43 shares of phantom stock.
• The phantom stock was acquired 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.
• The phantom stock is payable in cash upon distribution to Mr. Sandgren according to the terms of the plan.
• The transaction occurred on December 10, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally neutral to positive. It indicates that the company is following its compensation plan.

Industry Context

This type of transaction is common for executive compensation packages in the financial industry, often used to align executive interests with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock awards, are a standard practice in the banking industry for executive compensation.
• Many financial institutions use similar plans to incentivize and retain key executives.
• The specific terms and conditions of these plans can vary, but the general structure is consistent across the industry.

Stakeholder Impact

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

Key Dates

Keywords

phantom stock, executive compensation, deferred compensation, Old National Bancorp, ONB, James A. Sandgren