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 54 shares of phantom stock under the company's Executive Deferred Compensation Plan on April 14, 2025.

Summary

• On April 14, 2025, James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 54 shares of phantom stock through 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 will be payable in cash upon distribution according to the plan's terms.
• The price of the phantom stock was $19.0163 per share.
• Following the transaction, Sandgren directly owns 30,126 shares of Old National Bancorp common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation, indicating a neutral sentiment.

Positives

• The acquisition of phantom stock aligns the executive's interests with the long-term performance of the company.
• The deferred compensation plan can be seen as a tool for retaining key executives.

Industry Context

Executive compensation packages often include phantom stock or similar instruments to incentivize performance and retain key personnel. This is a common practice in the banking industry.

Comparison to Industry Standards

• Many financial institutions use deferred compensation plans, including phantom stock, as part of their executive compensation strategy.
• Companies like JP Morgan Chase, Bank of America, and Wells Fargo also utilize similar compensation methods to align executive interests with shareholder value.

Stakeholder Impact

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

Key Dates

Keywords

phantom stock, executive compensation, deferred compensation plan, Old National Bancorp, ONB, Form 4, Sandgren, insider trading