Form 4: Old National Bancorp Executive James A. Sandgren Reports Changes in Beneficial Ownership

James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, reports 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 to report changes in beneficial ownership.
• The transaction involved the acquisition of 52 shares of phantom stock under the Old National Bancorp Executive Deferred Compensation Plan on October 28, 2024.
• These phantom stock shares are payable in cash upon distribution to Sandgren, representing common stock on a 1-for-1 basis.
• Following the reported transaction, Sandgren directly owns 26,982 derivative securities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to executive compensation, indicating a neutral sentiment.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects standard practices for deferred compensation plans.

Comparison to Industry Standards

• Executive compensation plans, including deferred compensation and phantom stock, are common across the banking industry.
• Companies like JP Morgan Chase, Bank of America, and Wells Fargo also utilize similar compensation structures to incentivize and retain key executives.
• The specifics of the plan, such as vesting schedules and payout terms, would need to be compared to industry benchmarks to assess its competitiveness.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it relates to executive compensation.
• It could indirectly impact employee morale and retention, as it pertains to the compensation structure for key executives.

Key Dates