Form 4: Old National Bancorp Executive James A. Sandgren Reports Acquisition of Phantom Stock

James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, reports the acquisition of phantom stock under the company's Executive Deferred Compensation Plan.

Summary

• James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, filed a Form 4 on May 29, 2024, reporting a transaction.
• The transaction involved the acquisition of 60 shares of phantom stock under the Old National Bancorp Executive Deferred Compensation Plan on May 28, 2024.
• These phantom stock shares are payable in cash upon distribution to Sandgren, with each share representing one share of Old National Bancorp common stock.
• The price of the phantom stock was $16.7557 per share.
• Following the reported transaction, Sandgren directly owns 25,954 shares of Old National Bancorp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it's a routine disclosure of an executive's compensation-related transaction. It doesn't inherently indicate positive or negative performance for the company.

Positives

• The acquisition of phantom stock aligns executive compensation with the company's performance.
• The Executive Deferred Compensation Plan allows for deferred compensation, potentially offering tax advantages to the executive.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that a high-ranking executive is accumulating more phantom stock in the company.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation.
• The acquisition of phantom stock aligns executive interests with shareholder value.

Key Dates