Form 4: ONB Director Skillman Increases Stake

Old National Bancorp director Rebecca S. Skillman acquired 4,810 shares of common stock at $20.79 per share as part of her 2025 annual director compensation.

Summary

• Rebecca S. Skillman, a Director of Old National Bancorp (ONB), acquired 4,810 shares of common stock on November 13, 2025.
• The shares were acquired at a price of $20.79 per share.
• This acquisition represents the equity portion of her 2025 annual director compensation.
• Following this transaction, Ms. Skillman beneficially owns a total of 52,227 shares of Old National Bancorp common stock.
• Between September 17, 2024, and September 15, 2025, Ms. Skillman also acquired an additional 1,158 shares through the company's Stock Purchase and Dividend Reinvestment Plan.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The filing indicates a director's acquisition of company stock, which is generally a positive signal of confidence. The transaction is part of a routine compensation plan and dividend reinvestment, suggesting a stable and expected increase in insider ownership.

Positives

• A director increasing their stake in the company demonstrates confidence in its future prospects.
• The acquisition is part of a structured compensation plan, aligning director interests with shareholders.
• Additional shares were acquired through a dividend reinvestment plan, indicating a long-term investment strategy.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or outlook. It solely reports an insider transaction.

Industry Context

Insider transactions, particularly acquisitions by directors, are generally viewed positively by the market as they signal confidence from those with intimate knowledge of the company. The use of a Rule 10b5-1 plan indicates a pre-planned transaction, which is a common practice for corporate insiders to avoid accusations of trading on material non-public information.

Comparison to Industry Standards

• The acquisition of shares as part of director compensation is a standard practice across many industries, including financial services, to align the interests of directors with those of shareholders.
• The use of a Rule 10b5-1 plan is a widely adopted best practice for corporate insiders to manage their stock transactions in compliance with SEC regulations, similar to practices seen at major financial institutions like JPMorgan Chase or Bank of America.
• Dividend reinvestment plans are also common mechanisms for long-term share accumulation by insiders and retail investors alike, reflecting a commitment to the company's long-term value creation.

Corporate Governance

Related Party Transactions

• The acquisition of 4,810 shares by Director Rebecca S. Skillman as part of her 2025 annual director compensation constitutes a related party transaction.

Stakeholder Impact

• Shareholders: May view the director's increased stake as a positive sign of management confidence and alignment of interests.

Key Dates

Keywords

Old National Bancorp, ONB, Rebecca S. Skillman, Director Compensation, Insider Transaction, Stock Acquisition, Form 4, Rule 10b5-1, Dividend Reinvestment