Company: ONBPP
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001558370-25-004483
Chunk: 89

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 89
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,375 | ​ | —           | ​ |          645,351 | ​ |                 205,138 | ​ |     220,031 | ​ |     253,855 | ​ |       84,167 | ​ |  3,243,917 | ​ |

| (1) | The values for the restricted stock and performance share units for Messrs. Sander and Sandgren and Ms. Vanzo in this table are the same as those reflected in a retirement scenario, given their retirement eligibility, but the vesting of all such awards would be accelerated upon a qualifying termination of their employment within two years after a Change in Control. |

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| 74 | OLD NATIONAL BANCORP 2025 PROXY STATEMENT |

COMPENSATION TABLES No Tax Gross-Ups Under Internal Revenue Code Section 4999, a 20% excise tax is imposed on change in control payments that are deemed to be “excess parachute payments” within the meaning of Section 280G(b)(1). In general, the excess parachute payment threshold above which excise taxes are imposed is 2.99 times the base amount (which is the average W-2 compensation over five years). The Employment Agreements do not contain tax gross-ups for any severance payments, including in connection with a Change in Control. If any Change in Control-related severance payments otherwise would be subject to the excise tax, the payments will be reduced to the safe harbor amount in a manner determined by the Company. Restrictive Covenants Under the CRC Agreements, the Current NEOs have agreed that any breach of their confidentiality, non-solicitation and non-competition covenants will result in the immediate forfeiture of (i) any remaining severance payments otherwise payable under their applicable employment or other agreements with the Company and (ii) any unvested or unearned Company equity awards, as well as require the Current NEO to repay to the Company any severance amounts received during any period that any such NEO was in breach of those covenants.

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| OLD NATIONAL BANCORP 2025 PROXY STATEMENT | 75 |

CEO PAY RATIO We believe our executive compensation program must be externally competitive and internally equitable to motivate our employees to create shareholder value. Our Compensation Committee monitors the relationship between the compensation of our executive officers and our non-executive employees. In this respect, the Compensation Committee considers the pay relationship based on