Form 4: ONB CEO Ryan III Reports Stock Ownership Changes

Old National Bancorp CEO James C. Ryan III reported recent changes in his beneficial ownership of company common stock, including acquisitions and a significant disposition.

Summary

• James C. Ryan III, Chairman and CEO of Old National Bancorp (ONB), reported changes in his beneficial ownership of common stock.
• Acquired 29 shares of common stock on September 30, 2025, at a price of $20.85 per share through the Old National Bancorp Employee Stock Purchase Plan.
• Disposed of 9,000 shares of common stock on December 4, 2025, with a reported price of $0.
• Acquired 11 shares of common stock between June 17, 2025, and September 15, 2025, through dividend reinvestment in the Old National Bancorp Employee Stock Ownership and Savings Plan 401(k).
• Following these transactions, Ryan III directly owns 804,743 shares of common stock.
• He also indirectly owns 2,730 shares via an IRA and 1,747 shares in the ONB Employee Stock Ownership and Savings Plan 401(k).

Sentiment

Score: 5

Explanation: Neutral. The filing reports routine insider transactions, including both acquisitions through company plans and a disposition (likely a gift/transfer given the $0 price). These types of transactions are common for executives and do not inherently signal strong positive or negative sentiment without additional context.

Positives

• Acquisition of 29 shares through the Employee Stock Purchase Plan indicates continued participation in company equity programs and alignment with shareholder interests.
• Acquisition of 11 shares through dividend reinvestment in the 401(k) plan demonstrates a long-term investment perspective and confidence in the company.

Negatives

• Disposition of 9,000 shares of common stock, especially with a $0 price, reduces direct ownership, though it likely represents a gift or transfer rather than a market sale.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The CEO's continued participation in employee stock plans and dividend reinvestment demonstrates ongoing alignment with shareholder interests. The disposition of 9,000 shares, likely a gift, is a minor reduction in direct ownership and typically not a significant concern.

Key Dates

Recommendation

This Form 4 reports routine insider transactions by the CEO, including acquisitions through employee plans and a disposition. The disposition at a $0 price strongly suggests a gift or transfer rather than a market sale, which typically does not signal a change in management's confidence in the company's future. The acquisitions through the ESPP and dividend reinvestment are positive indicators of continued alignment with shareholder interests. Without further context or additional financial information, these transactions alone do not warrant a change from a 'hold' recommendation.

Keywords

Old National Bancorp, ONB, James C. Ryan III, Insider Trading, Form 4, Stock Ownership, CEO, Director, Common Stock, Employee Stock Purchase Plan, Dividend Reinvestment