Company: ONBPP
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001558370-25-004483
Chunk: 54

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 54
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 ​ |       1,101,870 | ​ |
| Brendon B. Falconer | ​ |         630,000 | ​ |

| (1) | 2024 base salaries became effective in March 2024, other than Mr. Moran’s, which became effective on September 1, 2024, when he was promoted to the position of Senior Executive Vice President and Chief Financial Officer of the Company. |

Annual Incentive Compensation Plan Overview.Our AICP provides an opportunity for team members who participate in the plan, including our Current NEOs, to earn short-term incentive compensation based upon the achievement of corporate performance compared to pre-set performance goals determined by our Compensation Committee at the beginning of the year. At threshold performance, a participant earns 50% of his or her target award, 100% of target is earned for target performance and 200% of target is earned for maximum performance. No incentive payments are made for performance below the threshold performance level. For performance between threshold and target or between target and maximum, the payout is determined in accordance with a payout curve established by the Compensation Committee at the beginning of the year when the awards are granted. Each year, the Compensation Committee selects the annual incentive compensation metric(s), performance goals and weightings based on the following objectives:

| ● | Link pay with annual corporate performance; |

| ● | Emphasize the overall profitability of the Company; |

| ● | Incentivize continued profitable loan growth, with emphasis on credit quality; |

| ● | Incentivize continued fee income growth; and |

| ● | Motivate growth of deposits and maintain a quality, low-cost core deposit base. |

| ​  | ​                                         |
| 54 | OLD NATIONAL BANCORP 2025 PROXY STATEMENT |

COMPENSATION DISCUSSION AND ANALYSIS

The Compensation Committee establishes rigorous short-term performance metrics and goals consistent with our annual budget and operating plan. Metrics may include financial, operational, strategic or other key indicators of Company performance. Performance goals are intended to require strong performance to achieve target payout levels. Annual incentive compensation awards earned are based on the achievement of the performance goals established by the Compensation Committee at the beginning of the year. The payouts of annual incentive compensation awards are typically in cash but may be paid in shares of our common stock. Payouts to our Current NEOs are approved by our Board of Directors based upon recommendations of our Compensation Committee. 2024 Annual Incentive Compensation Plan Structure.*The Compensation Committee