Otto Bremer Trust 4
4 · OLD NATIONAL BANCORP /IN/ · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Old National Bancorp (ONB) 10% Owner Otto Bremer Trust Sells Shares
What Happened
Otto Bremer Trust, a reported 10% owner of Old National Bancorp (ONB), sold 1,926,782 shares on February 26, 2026 at $25.95 per share, for total proceeds of $49,999,993. The sale was executed pursuant to an agreement between the Issuer and the Trustees and was disclosed on a Form 4 filed March 2, 2026. The trust reports the sale was made for investment portfolio diversification.
Key Details
- Transaction date and price: 2026-02-26, 1,926,782 shares at $25.95 per share (total $49,999,993).
- Sale closed pursuant to an agreement between the Issuer and the Trustees; per-share price was agreed Feb 11, 2026 based on that day’s intraday NASDAQ trading range (footnote).
- Reporting person: Otto Bremer Trust (10% owner). The Trust is governed by three Trustees; actions require a majority vote—no single Trustee has individual voting/dispositive power (footnote).
- Shares owned after transaction: not specified in the provided report.
- Filing timeliness: Form 4 filed on 2026-03-02 for a 2026-02-26 transaction; this filing date is within the two-business-day window (weekend excluded), so it appears timely.
- No 10b5-1 plan, option exercise, gift, or tax-withholding noted.
Context
- This was a sale by a large institutional/investor trust (10% owner), not an executive compensation sale; the filing notes the sale was for diversification. Institutional sales are commonly portfolio-management actions and do not necessarily indicate insider views on company prospects.
- The filing also notes a one-time contractual right under a prior agreement that allowed the Trust to designate a Trustee to the Issuer’s board (a governance detail, not part of this sale).
Insider Transaction Report
Form 4
Otto Bremer Trust
10% Owner
Transactions
- Sale
Common Stock
[F1][F2]2026-02-26$25.95/sh−1,926,782$49,999,993→ 41,210,548 total
Footnotes (2)
- [F1]Shares of common stock of the Issuer (the "Shares") sold pursuant to an agreement between the Issuer and the trustees of the Reporting Person (the "Trustees"), at a purchase price of $25.95 per Share, which per Share price was agreed upon between the Issuer and the Trustees on February 11, 2026, based on the range of intraday trading prices for the Issuer's common stock on the NASDAQ Stock Exchange on that date. The sale of the Shares closed on February 26, 2026. The Shares were sold for investment portfolio diversification purposes of the Reporting Person.
- [F2]The Reporting Person has three Trustees. Any action by the Reporting Person with respect to the shares of Common Stock may be taken only by majority vote of the Trustees and, therefore, no Trustee individually has voting or dispositive power with respect to the shares.
Signature
/s/ Daniel C. Reardon (Co-CEO and Trustee of Otto Bremer Trust)|2026-03-02