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 42 shares of phantom stock under the company's Executive Deferred Compensation Plan on February 3, 2025.

Summary

• On February 3, 2025, James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 42 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 $23.5461 per share.
• Following the transaction, Sandgren directly owns 27,456 shares of Old National Bancorp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to executive compensation, which is generally viewed as a positive aspect of corporate governance and incentivization.

Positives

• The acquisition of phantom stock aligns the executive's interests with the company's performance.
• The deferred compensation plan provides a long-term incentive for the executive.

Future Outlook

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

Industry Context

Executive compensation plans, including deferred compensation and phantom stock, are common in the banking industry to attract and retain talent and align executive incentives with shareholder value.

Comparison to Industry Standards

• Deferred compensation plans are a standard component of executive compensation packages in the financial services industry.
• Many banks, such as JP Morgan Chase and Bank of America, utilize similar plans to incentivize their executives.
• The use of phantom stock is also a common practice, providing executives with a stake in the company's performance without diluting existing shareholders.

Stakeholder Impact

• The acquisition of phantom stock has a minimal direct impact on shareholders.
• It aligns the executive's interests with the company's long-term performance, potentially benefiting shareholders in the long run.

Key Dates

Keywords

phantom stock, executive compensation, deferred compensation plan, Old National Bancorp, ONB, Sandgren, Form 4, beneficial ownership