Company: ONBPP
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001558370-25-004483
Chunk: 62

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 62
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 year and (ii) been employed on the last day of the year or retired on or after age 65, died or become disabled during the year. We also maintain a nonqualified deferred compensation plan, known as our Executive Deferred Compensation Plan, for certain management employees. Our CEO and other NEOs and executives are eligible to participate in the plan. An executive may elect to defer up to 25% of his or her base salary and up to 75% of his or her annual cash bonus in this plan. We also provide matching contribution credits under the plan, reduced by any matching contributions under the 401(k) Plan. In addition, we may provide discretionary contribution credits to make up for any reduction in discretionary profit-sharing contributions under the 401(k) Plan due to Internal Revenue Code contribution limits applicable to tax-qualified retirement plans. Perquisites In general, we believe that perquisites should not constitute a material portion of any executive’s compensation. Old National offers a limited number of perquisites, including only programs that are aligned with customary market practices. Detailed information regarding perquisites and other compensation is provided in Compensation Tablesbeginning on page 64.

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| OLD NATIONAL BANCORP 2025 PROXY STATEMENT | 59 |

COMPENSATION DISCUSSION AND ANALYSIS

Policies, guidelines and other practices Stock Ownership Guidelines The Nominating and Corporate Governance Committee and Board of Directors have adopted stock ownership guidelines for the Company’s executive officers, including our NEOs, that are consistent with market practices and ensure our executives retain stock of the Company received as compensation until the target ownership level is achieved. Under the guidelines, the NEOs are required to hold shares of our common stock with a value which is the lesser of the following:

| ​                                        | ​                                    |
| POSITION OR SALARY                       | TARGET OWNERSHIP GUIDELINES          |
| Chief Executive Officer                  | 5x salary in stock or 200,000 shares |
| Chief Operating Officer                  | 4x salary in stock or 100,000 shares |
| Salary equal to or greater than $250,000 | 3x salary in stock or 50,000 shares  |

As of the date of this Proxy Statement, each of our NEOs has met the applicable stock ownership guidelines requirement. For purposes of the guidelines, unvested shares of service-based restricted stock, phantom shares in our Non-qualified Deferred Compensation Plan and shares held in our 401(k) Plan are considered owned. Unearned performance