SCHEDULE: Vanguard Reports 0% Stake in Old National Bancorp

The Vanguard Group has filed an amended Schedule 13G, reporting 0% beneficial ownership in Old National Bancorp following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 16 to Schedule 13G for Old National Bancorp/IN, reporting 0% beneficial ownership of its Common Stock.
• This change in reported ownership is a direct result of an internal realignment within The Vanguard Group, which occurred on January 12, 2026.
• In accordance with SEC Release No. 34-39538, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report their beneficial ownership separately (on a disaggregated basis).
• These subsidiaries and/or business divisions will continue to pursue the same investment strategies as previously undertaken by The Vanguard Group, Inc.
• Consequently, The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over the securities beneficially owned by these separate entities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event for Old National Bancorp, as the change in beneficial ownership is attributed to an internal reporting realignment by Vanguard, not a change in investment strategy or a divestment based on the issuer's performance.

Future Outlook

The filing indicates that Vanguard's subsidiaries and/or business divisions will continue to pursue the same investment strategies as previously, suggesting a continuation of their investment approach, albeit under separate reporting.

Management Comments

• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

Industry Context

StockSavvy.ai notes that this filing reflects an internal organizational change within The Vanguard Group, a major institutional investor. Such realignments are common among large asset managers to optimize reporting structures or operational efficiencies, rather than indicating a change in investment thesis regarding Old National Bancorp itself. The disaggregated reporting aligns with SEC guidance for complex organizational structures.

Stakeholder Impact

• Shareholders of Old National Bancorp may observe a change in the reported institutional ownership structure, with Vanguard's aggregate reported stake shifting to its subsidiaries. This is primarily a reporting change and does not necessarily reflect a change in the underlying investment by Vanguard-managed funds.

Next Steps

• Vanguard's subsidiaries and/or business divisions will now report their beneficial ownership of Old National Bancorp securities separately.

Key Dates

Recommendation

The filing indicates a purely administrative change in how The Vanguard Group reports its beneficial ownership, stemming from an internal realignment. It does not suggest a change in investment thesis or a divestment of shares in Old National Bancorp. Therefore, the information presented does not warrant a change in investment recommendation for Old National Bancorp based solely on this filing.

Keywords

Vanguard Group, Old National Bancorp, Schedule 13G, Beneficial Ownership, Institutional Investor, SEC Filing, Common Stock, Investment Management, Financial Reporting