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 49 phantom stock units as part of the company's Executive Deferred Compensation Plan.

Summary

• James A. Sandgren, the CEO of Commercial Banking for Old National Bancorp (ONB), acquired 49 shares of phantom stock on June 23, 2025.
• These phantom shares were acquired at a price of $20.94 per share under the Old National Bancorp Executive Deferred Compensation Plan.
• Following this transaction, Mr. Sandgren beneficially owns a total of 30,568 phantom stock units.
• Phantom stock units represent Old National Bancorp common stock on a 1-for-1 basis and are payable in cash upon distribution.
• Additionally, between March 18, 2025, and June 16, 2025, Mr. Sandgren acquired an additional 204 shares of Old National Bancorp common stock through the dividend reinvestment feature of the same Executive Deferred Compensation Plan.

Sentiment

Score: 6

Explanation: Slightly positive as it indicates an executive's continued accumulation of equity-linked compensation, aligning their interests with shareholders, but it's a routine transaction and not indicative of new strategic moves.

Positives

• The acquisition of phantom stock by a key executive, James A. Sandgren, indicates continued participation and alignment with the company's long-term performance.
• The reinvestment of dividends into additional shares through the deferred compensation plan demonstrates a commitment to increasing equity exposure by the executive.

Future Outlook

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

Management Comments

• The phantom stock units are payable in cash upon distribution to the Reporting Person in accordance with the terms of the Plan.

Industry Context

This transaction is a routine disclosure of executive compensation and equity ownership within the banking sector, reflecting standard practices for aligning executive interests with shareholder value through deferred compensation plans.

Stakeholder Impact

• Shareholders: The transaction indicates continued alignment of executive interests with shareholder value through equity-linked compensation.

Key Dates

Keywords

Old National Bancorp, ONB, SEC Form 4, Insider Transaction, Phantom Stock, Executive Compensation, Deferred Compensation Plan, James A. Sandgren, Banking, Financial Services