Form 4: Old National Bancorp Executive Kendra L. Vanzo Reports Changes in Beneficial Ownership

Kendra L. Vanzo, Chief Administrative Officer of Old National Bancorp, reports acquisition and disposal of company stock related to performance share awards and dividend reinvestments.

Summary

• On March 15, 2025, Kendra L. Vanzo, Chief Administrative Officer of Old National Bancorp, reported changes in her beneficial ownership of the company's common stock.
• She acquired 17,456 shares as an earned performance share award at $0 cost.
• Vanzo disposed of 8,474 shares at $20.96 to satisfy tax withholding obligations upon vesting of the performance share award.
• Following these transactions, Vanzo directly owns 129,679 shares of Old National Bancorp common stock.
• She also indirectly owns 1,045 shares through an IRA and 6,526 shares through the ONB Employee Stock Ownership and Savings Plan 401(k).
• Between June 18, 2024 and March 17, 2025, Vanzo acquired 6 shares through the dividend reinvestment feature of the ONB Employee Stock Purchase Plan.
• Between December 17, 2024 and March 17, 2025, Vanzo acquired 130 shares through the dividend reinvestment feature of the ONB Employee Stock Ownership and Savings Plan 401(k).

Sentiment

Score: 6

Explanation: Neutral sentiment. The transactions are routine and related to compensation and tax obligations. The acquisition of performance shares is a positive sign, while the disposal is a standard practice.

Positives

• The acquisition of 17,456 shares through a performance share award suggests confidence in the company's future performance.
• Continued participation in dividend reinvestment plans indicates a long-term investment perspective.

Negatives

• The disposal of 8,474 shares, while for tax obligations, could be perceived negatively by some investors.

Risks

• Executive stock transactions are always subject to interpretation and could be driven by factors unrelated to company performance.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often tied to compensation plans and tax obligations. Monitoring these transactions can provide insights into executive sentiment and alignment with shareholder interests.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards to align management's interests with those of shareholders.
• Tax-related stock disposals are a standard part of equity compensation, similar to practices at companies like JP Morgan Chase, Bank of America, and Wells Fargo.

Stakeholder Impact

• The transactions have a limited direct impact on stakeholders, primarily reflecting changes in executive ownership.

Key Dates