Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 151

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 151
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 the average price per share realized by the Otto Bremer Trust for the sale of its Bremer Class A common stock and Bremer Class B common stock; or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 with respect to any Bremer Class A common stock owned by the Bremer ESOP or any stock owned by a former Bremer ESOP participant which stock was distributed from the Bremer ESOP to such participant within the                                                                                                                                                                                                                                                                                                                                                                                                                               | ​ | ​ | ​                                | ​ |

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TABLE OF CONTENTS

| ​ | ​ | ​ | Bremer Governing Documents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | ​ | ​ | Old National Governing Documents | ​ |
| ​ | ​ | ​ | preceding 15 months, the fair market value of the stock as established by its most recent annual appraisal.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 The transferee’s option is effective upon written notice of exercise of the option to the holders of Bremer Class A common stock on or subsequent to the date upon which the Otto Bremer Trust and the transferee execute a definitive purchase agreement for the Bremer Class B common stock. The period to exercise the transferee’s option will continue for 60 days following the effective date of the sale of Bremer Class B common stock. The purchase and sale of Bremer Class A common stock pursuant to the transferee’s option must occur within 120 days following the exercise of the transferee’s option, or such longer period as reasonably required to obtain any necessary regulatory approvals.                                                                                                                
 Put option to transferee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
 In the event of a sale of all or substantially all of the shares of Bremer Class B common stock held by the Otto Bremer Trust, each holder of Bremer Class A common stock has the right (the “put option to transferee”), to sell all of its Bremer Class A common stock shares to the Otto Bremer Trust or the Otto Bremer Trust’s designated assignee for a total cash purchase price per share equal to the average sales price per share realized by the Otto Bremer Trust for the sale of its Bremer Class A common stock and Bremer Class B common stock. The put option to transferee is effective commencing with the date on which the Otto Bremer Trust and its transferee execute an agreement providing for the sale of the Bremer Class B common stock and will continue for 30 days following the date on which the | ​ | ​ | ​                                | ​ |

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