Company: ONBPP
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001558370-25-004483
Chunk: 57

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 57
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 of total equity award 
 ●All other NEOS – 40-50% of total equity award         | Total Shareholder Return (TSR) – 50%Total Shareholder Return relative to the performance of the companies in the KRX Index measured over a three-year period ending on December 31, 2026.​Return on Average Tangible Common Equity (ROATCE) – 50%Return on Average Tangible Common Equity relative to the performance of companies in the KRX Index measured at the end of the three-year period ending on December 31, 2026. |
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| ●CEO and Executive Chairman –40% of total equity award 
 ●All other NEOs – 50-60% of total equity award         | Three-Year Annual VestingService-based restricted stock that vests in equal annual installments over a three-year period.                                                                                                                                                                                                                                                                                                     |
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The number of performance share units and shares of service-based restricted stock that we award to our CEO and other Current NEOs and executives is based upon a percentage of their base salaries following consultation with WTW and consideration of peer and market practices. In general, we seek to set long-term incentive opportunities that approximate the median for our peer group. The Compensation Committee typically makes recommendations to our Board of Directors regarding equity compensation awards at its meeting in February of each year, and these awards are then reviewed and approved by the Board of Directors at its February meeting. Under special circumstances, such as the hiring of a new employee or a substantial promotion of an existing executive, the Compensation Committee may award equity compensation at other times during the year.

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| 56 | OLD NATIONAL BANCORP 2025 PROXY STATEMENT |

COMPENSATION DISCUSSION AND ANALYSIS

Long-term equity compensation awards granted in 2024 were made under our Equity Incentive Plan, which has been approved by our shareholders. These awards are reflected in the “Grants of Plan-Based Awards During 2024”table on page 66. Performance Share Units.For each performance share unit award, our Compensation Committee established threshold, target and maximum performance levels relative to the performance of the other companies in the KRX Index. The performance share units that may be earned for the 2024 awards are as follows:

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| METRIC                | BELOW THRESHOLD           | THRESHOLD            | TARGET