Company: ONBPP
Filing Date: 2025-05-07
Form Type: SCHEDULE 13D
Source: 0002064726-25-000001
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Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-05-07
Form: SCHEDULE 13D
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% of the total number of shares of such Common Stock acquired in the First Step Merger in each of the consecutive 90-day periods. During the Lock-Up Period, the Trustees may request that the Issuer purchase the Common Stock held by the Trust on mutually agreed terms, but the Issuer will have no obligation to purchase the Trust's shares of the Common Stock. In addition, until such time as the Reporting Person beneficially owns less than 1% of the outstanding shares of the Common Stock and, subject to certain exceptions, (i) if the Issuer determines to repurchase shares of the Common Stock either on the open market or in privately negotiated transactions or through accelerated share repurchase programs, the Issuer will first offer to repurchase such shares of the Common Stock from the Trustees, and (ii) following the Lock-Up Period, if the Trustees determine to sell any shares of the Common Stock either on the open market or in privately negotiated transactions, the Trustees will first offer to sell such shares of the Common Stock to the Issuer. In each case of (i) and (ii), the party that receives any offer must respond to the offer as promptly as reasonably practicable but will have no obligation to accept the offer. 
 Director Appointment. The Investor Agreement provides that, effective as of the Effective Time, the Issuer Board will be increased by one director and one of the Trustees serving as a trustee of the Trust immediately prior to the Effective Time (such person to be determined by the Trustees in their sole discretion) will be appointed to the Issuer Board and will serve in accordance with the corporate governance guidelines and standards applicable to all directors of the Issuer. Pursuant to the Investor Agreement, Daniel C. Reardon, a Co-CEO and Trustee of the Reporting Person, was appointed to the Issuer Board effective as of May 1, 2025 and will serve in accordance with the corporate governance guidelines and standards applicable to all directors of the Issuer.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
 Registration Rights. The Investor Agreement provides that the Trustees are entitled to certain customary demand registration, shelf takedown and piggyback registration rights with respect to their shares of the Common Stock acquired in the First Step Merger that are Registrable Securities (as defined in the Investor Agreement), subject to customary limitations. The registration rights provisions will terminate when the Trustees, in the aggregate, own less than 10% of the outstanding shares of the Common Stock.