Form 4: ONB Chief Risk Officer Boosts Stake with Stock Award

Old National Bancorp's Chief Risk Officer, Scott J. Evernham, increased his beneficial ownership through a restricted stock award, despite a tax-related share disposition.

Summary

• Scott J. Evernham, Chief Risk Officer of Old National Bancorp, reported changes in his beneficial ownership.
• On March 1, 2026, he disposed of 5,618 shares of common stock at $23.1 per share to satisfy tax withholding obligations upon the vesting of a previously granted restricted stock award.
• Concurrently, he was granted 11,346 shares of common stock as a restricted stock award at a price of $0.
• Following these transactions, his direct beneficial ownership increased to 140,666 shares.
• He also holds indirect beneficial ownership of 540 shares in the ONB Employee Stock Ownership and Savings Plan 401(k) and 200 shares for each of his three daughters (Aliza Kaye Evernham, Lucia Joelle Evernham, Mora Evlynn Evernham).

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as the Chief Risk Officer's increased equity stake through a restricted stock award aligns his interests with long-term shareholder value, despite a routine tax-related share disposition.

Positives

• Grant of 11,346 shares of common stock as a restricted stock award, increasing the officer's total beneficial ownership.
• The award aligns management's interests with shareholders.

Negatives

• Disposition of 5,618 shares to satisfy tax withholding obligations, reducing direct ownership temporarily.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that restricted stock awards are a common compensation mechanism in the banking industry, aligning executive incentives with long-term shareholder value. This transaction reflects standard executive compensation practices at Old National Bancorp.

Comparison to Industry Standards

• Restricted stock awards are a standard component of executive compensation across the financial services industry, including regional banks like Old National Bancorp.
• Companies such as PNC Financial Services Group, KeyCorp, and Fifth Third Bancorp also frequently utilize similar equity-based incentives to retain talent and align management with shareholder interests.
• The size of the award is commensurate with a Chief Risk Officer role at a regional bank of ONB's scale.

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholder value due to higher equity ownership.
• Employees: The 401(k) plan mentioned indicates standard employee benefits.

Key Dates

Recommendation

This Form 4 reports routine executive compensation events, specifically a restricted stock award grant and a corresponding tax-related share disposition. While the officer's beneficial ownership increased, these transactions do not provide new fundamental information about the company's operational performance or strategic direction that would warrant a change in investment recommendation. Therefore, a "hold" recommendation is appropriate as the filing does not present a compelling reason to alter an existing position.

Keywords

Old National Bancorp, ONB, Scott J. Evernham, Chief Risk Officer, Restricted Stock Award, Insider Trading, Beneficial Ownership, Form 4, SEC Filing