Company: ONBPP
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001558370-25-004483
Chunk: 49

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 49
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 Our performance share unit awards are based on our performance relative to other companies in the KRX Index. This reinforces a strong relationship between our relative performance and the relative competitiveness of our executives’ compensation.                                                                                                                              |
| No Liberal Share Recycling                                                                                                                                                                                                                                                                                                                                                                                     
 Our incentive compensation plan under which equity awards are granted to our executives does not permit liberal recycling of shares.                                                                                                                                                                                                                                                                           | Restrictive Covenants                                                                                                                                                                                                                                                                                                                                                              
 Our NEOs are required to comply with confidentiality and non-solicitation covenants and, for certain officers, non-competition covenants.                                                                                                                                                                                                                                          |

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| OLD NATIONAL BANCORP 2025 PROXY STATEMENT | 47 |

COMPENSATION DISCUSSION AND ANALYSIS

| Clawback Policy                                                                                                                                                                                                                              
 We have a clawback policy that complies with the SEC and Nasdaq rules providing for recovery of bonuses and other incentive-based compensation received by executive officers under certain circumstances over a three-year lookback period. | Responsible Employee Ownership                                                                                                                                                                                                                                                                                                                                                                            
 We prohibit employees, including our Current NEOs, from engaging in any short-term, speculative transactions with respect to Company securities, including purchasing securities on margin, engaging in short sales, buying or selling put or call options and trading in options. We also prohibit our Current NEOs and other executive officers from participating in hedging or pledging transactions. |

Compensation Governance The Compensation Committee of our Board of Directors is currently composed of eight non-employee directors, each of whom is independent from management and the Company (as independence is defined under SEC and Nasdaq requirements and the Company’s Corporate Governance Guidelines). No Compensation Committee member is eligible to participate in any management compensation program or receives any compensation from the Company other than Board and committee fees. Role of Compensation Consultant in Compensation Decisions The Compensation Committee has the authority to engage independent compensation consultants to advise it on all aspects of the compensation programs for our executive officers. For 2024, the Compensation Committee retained WTW as its compensation consultant to provide comparative data, analysis and advice relating to executive compensation. In providing input to the Compensation Committee, WTW uses peer data from publicly filed documents as well as market survey data. The market surveys include a broader range of companies and do not provide individual company-specific information. The Compensation Committee uses this peer and market data as a general reference and is among several factors considered when making compensation decisions for our CEO and other Named Executive Officers. WTW also provides services to the Company relating to director compensation. Our Nomin