Sandgren James A, CEO of Commercial Banking at Old National Bancorp (ONB), has filed 39 Form 4 disclosures over the past year, all tied to a single issuer. The pattern is overwhelmingly one of compensation-driven accumulation rather than discretionary buying: roughly $131,000 in acquired value came almost entirely from recurring "A" grants (awards) and small periodic allotments, with no open-market "P" purchases on record. Meanwhile, the only true open-market sale occurred on February 4, 2026, when Sandgren disposed of ONB shares worth approximately $799,700 — the largest single transaction in the dataset and the sole "S" filing.
The recent activity clusters around standard corporate events. On March 15, 2026, Sandgren received a zero-value award alongside a tax-withholding "F" transaction valued at $362,357, mirroring a similar March 1, 2026 pairing ($190,575 in "F" shares). These "F" filings — shares withheld to cover tax obligations on vested awards — are mechanical and not discretionary, but they do reduce his net position. Earlier, on December 4, 2025, and February 6, 2025, he made gifts ("G") with no cash value, further indicating non-market-driven transfers.
The selling bias is clear but narrow: one large open-market sale in early 2026, surrounded by routine compensation events. The absence of any "P" purchases suggests Sandgren is not adding to his stake on the open market, while the recurring "A" and "F" cycles reflect standard equity compensation mechanics. The February 2026 sale, at roughly $800,000, stands out as the only deliberate cash-generating transaction in the period, though its timing relative to the March vesting cycle suggests it may simply be a liquidity event rather than a signal of changing conviction.
AI-assisted summary