Otto Bremer Trust 4

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).