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 56 shares of phantom stock under the company's Executive Deferred Compensation Plan on August 5, 2024.

Summary

• On August 5, 2024, James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, acquired 56 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 $17.9244 per share.
• Following the transaction, Sandgren directly owns 26,470 shares of Old National Bancorp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a routine executive compensation transaction that aligns executive interests with the company's performance.

Positives

• The acquisition of phantom stock aligns the executive's interests with the long-term performance of the company.
• The deferred compensation plan provides a tax-advantaged way for the executive to accumulate wealth.

Industry Context

Executive compensation packages often include phantom stock or similar instruments to incentivize performance and retain key personnel. This filing is a routine disclosure related to such compensation.

Comparison to Industry Standards

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

Stakeholder Impact

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

Key Dates