Form 4: Old National Bancorp Executive Acquires Phantom Stock Under Deferred Compensation Plan
SEC Form 4 Filing
James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 41 shares of phantom stock under the company's Executive Deferred Compensation Plan on February 18, 2025.
Summary
- On February 18, 2025, James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 41 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 $24.1676 per share.
- Following the transaction, Sandgren directly owns 27,497 shares of Old National Bancorp common stock.
Sentiment
Score: 7
Explanation: The document reflects a routine executive compensation transaction, which is generally neutral to slightly positive as it indicates ongoing alignment of management with shareholder interests.
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 to retain key executives.
Industry Context
Executive compensation packages often include phantom stock or similar instruments to align management's interests with shareholder value. 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 and Bank of America also utilize similar compensation methods to incentivize and retain key personnel.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns executive compensation with company performance.
Key Dates
| Date | Description |
|---|---|
| 02/18/2025 | Date of transaction: James A. Sandgren acquired 41 shares of phantom stock. |
| 02/19/2025 | Date of signature: Form 4 signed by Sharon K. Brantley, Paralegal, as Attorney-In-Fact for James A. Sandgren. |
Keywords
phantom stock, executive compensation, Old National Bancorp, ONB, Form 4, Sandgren, deferred compensation plan
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