Form 4: Old National Bancorp Executive James A. Sandgren Reports Stock Transactions

James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, reports acquisition and disposal of company stock and phantom stock units.

Summary

• James A. Sandgren, CEO of Commercial Banking at Old National Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• On March 1, 2025, Sandgren acquired 15,348 shares of common stock and disposed of 12,642 shares to cover tax obligations at $23.75 per share.
• On March 2, 2025, Sandgren disposed of an additional 2,748 shares at $23.75 per share for tax obligations.
• As of March 2, 2025, Sandgren directly owns 285,322 shares of Old National Bancorp common stock.
• Sandgren also indirectly owns 6,973 shares through the ONB Employee Stock Ownership and Savings Plan 401(k).
• Sandgren acquired 1,151 phantom stock units on February 28, 2025, at $23.6985 per share under the Old National Bancorp Executive Deferred Compensation Plan.
• He also acquired 42 phantom stock units on March 3, 2025, at $23.82 per share under the same plan, bringing his total to 28,690 phantom stock units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report their transactions in company stock, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock and deferred compensation plans, similar to the Old National Bancorp Executive Deferred Compensation Plan.
• Tax withholding obligations upon vesting of restricted stock are a common reason for executives to dispose of shares.
• Comparing Sandgren's holdings and transactions to those of executives at peer banks (e.g., Fifth Third Bancorp, Huntington Bancshares) would provide a broader context.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in Sandgren's holdings.
• The vesting of restricted stock and subsequent tax obligations are part of Sandgren's compensation package, impacting him directly.

Key Dates