Salmon Tom has recently reported an acquisition of phantom stock as part of the Old National Bancorp Directors Deferred Compensation Plan. This transaction, filed on October 6, 2026, is significant as it highlights the ongoing strategies for compensating directors within the financial services industry.
According to the filing, Salmon Tom acquired 366 shares of phantom stock on October 2, 2026, at a price of $24.865 per share. Following this transaction, Salmon Tom now owns a total of 52,412 shares. The phantom stock represents shares of Old National Bancorp common stock on a 1-for-1 basis and is payable in cash upon distribution to the participant in accordance with the terms of the plan.
Background
Salmon Tom is associated with Old National Bancorp, a company categorized under the national commercial banks sector. The firm is based in Evansville, Indiana, and has been active in filing various reports with the SEC, including multiple Form 4 submissions in recent months.
What the Filing Says
The SEC filing, with accession number 0000707179-26-000061, details the acquisition of phantom stock and notes that this transaction is part of a deferred compensation plan for directors. It states, "Represents shares of phantom stock acquired pursuant to the Old National Bancorp Directors' Deferred Compensation Plan as a result of quarterly director fees paid in cash to the participant." This indicates a structured approach to director compensation that aligns with industry practices.
Impact
This acquisition may affect other directors and executives within Old National Bancorp and similar firms, as it showcases a method of compensation that ties director fees to the performance of the company. It may encourage other financial institutions to evaluate their own compensation strategies in order to attract and retain top talent in a competitive market.
What's Next
The filing does not say what happens next.