Form 4: Old National Bancorp Executive Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Nicholas J. Chulos, Chief Legal Officer & Corp Sec of Old National Bancorp, reports transactions involving company stock, including acquisition of performance shares and shares surrendered for tax obligations.
Summary
- On March 15, 2025, Nicholas J. Chulos, Chief Legal Officer & Corp Sec of Old National Bancorp, reported changes in beneficial ownership of the company's stock.
- Chulos acquired 12,322 shares of common stock through earned performance share awards at $0.
- He also disposed of 4,013 shares to satisfy tax withholding obligations at a price of $20.96 per share.
- Following these transactions, Chulos directly owns 58,032 shares of Old National Bancorp common stock.
- Additionally, Chulos indirectly owns 13,579 shares through the ONB Employee Stock Ownership and Savings Plan 401(k), 35,439 shares by trust for spouse, and 35,438 shares by trust.
- Between December 17, 2024, and March 17, 2025, Chulos acquired 89 shares through the dividend reinvestment feature of the Old National Bancorp Employee Stock Ownership and Savings Plan 401(K).
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. The acquisition of performance shares is a positive sign, but the disposal for tax purposes is a neutral event.
Positives
- The acquisition of 12,322 shares through performance share awards suggests positive performance or achievement of targets.
Negatives
- The disposal of 4,013 shares to cover tax obligations, while normal, reduces the executive's direct holdings.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a key executive, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 12/17/2024 | Start date of the period during which the Reporting Person acquired shares of Old National Bancorp common stock pursuant to the dividend reinvestment feature of the Old National Bancorp Employee Stock Ownership and Savings Plan 401(K). |
| 03/15/2025 | Date of the reported transactions, including acquisition of performance shares and disposal for tax obligations. |
| 03/17/2025 | End date of the period during which the Reporting Person acquired shares of Old National Bancorp common stock pursuant to the dividend reinvestment feature of the Old National Bancorp Employee Stock Ownership and Savings Plan 401(K). |
| 03/18/2025 | Date of signature for the Form 4 filing. |
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