Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 144

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 144
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 Articles of Incorporation; Anti-Takeover Measures**

#### Articles of Incorporation
Old National’s articles of incorporation currently authorize the issuance of 600,000,000 shares of common stock and 2,000,000 shares of preferred stock. Within the limits of applicable law and the listing rules of the NASDAQ Stock Exchange, these shares are available to be issued, without prior shareholder approval, in classes with relative rights, privileges and preferences determined for each class by the Old National board of directors.

The articles of incorporation also provide that certain business combinations may, under certain circumstances, require approval of more than a simple majority of Old National’s issued and outstanding shares, and require a vote of not less than eighty percent (80%) of the outstanding shares of common stock for the amendment of certain significant provisions of the Old National articles of incorporation.

Additionally, the Old National articles of incorporation provide that the Old National board of directors will consider non-financial factors that it deems relevant when evaluating a business combination. Any amendment of this provision requires a vote of not less than eighty percent (80%) of the outstanding shares of common stock.

Finally, the Old National articles of incorporation provide that any person or group of persons who acquires 15% or more of Old National’s then outstanding common stock must pay an amount at least equal to the highest percent over market value paid for shares already held by such person or group when acquiring additional shares. Any amendment of this provision requires a vote of not less than eighty percent (80%) of the outstanding shares of common stock.

These provisions in the Old National articles of incorporation are designed to encourage potential acquirors to negotiate with the Old National board of directors to preserve for shareholders Old National’s value in the event of a takeover attempt. These provisions reduce the likelihood that a potential acquiror who is unwilling to pay a market premium determined by the board to be sufficient will attempt to acquire shares of Old National common stock by means of an open market accumulation, front-end loaded tender offer or other coercive or unfair takeover tactic. These provisions in the Old National articles of incorporation would ensure that Old National, its shareholders and the other stakeholders would be protected from certain takeover attempts, or the acquisition of a substantial block of equity, on terms that may be less favorable generally than would be available in transactions negotiated with and approved by the board.

#### Indiana Law
Chapters 42 and 43 of the IBCL may be deemed to have certain anti-takeover effects by prescribing, in the case of Chapter 42, certain