Associated Banc-Corp (ASB) insider reports stock and phantom unit awards

Rhea-AI Filing Summary

Associated Banc-Corp director Robert A. Jeffe reported acquiring additional common stock. On December 15, 2025, he acquired 45 and 377 shares of common stock at $26.94 per share, increasing his directly owned stake to 48,325 shares.

He also holds 90,417.557 phantom stock units tied to Associated Banc-Corp common stock. The explanation notes that certain dividend equivalent units vest on the first anniversary of the related restricted stock unit grant or after he ceases serving as a director. Stock units are described as 100% vested at acquisition, and phantom stock units remain in the Director's Deferred Compensation Plan until distributed under his elections.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

JEFFE ROBERT A

(Last) (First) (Middle)

C/O ASSOCIATED BANC-CORP

433 MAIN STREET

(Street)

GREEN BAY WI 54301

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASSOCIATED BANC-CORP [ ASB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock $0.01 Par Value	12/15/2025		A(1)		45	A	$26.94	47,948	D
Common Stock $0.01 Par Value	12/15/2025		A(2)		377	A	$26.94	48,325	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Unit	$0							(3)	(4)	Common Stock $0.01 Par Value	90,417.557		90,417.557	D

Explanation of Responses:

1. Dividend equivalent units, which vest on the first anniversary of the grant of the restricted stock units to which they relate, are payable solely in shares of common stock upon vesting (subject to deferral if so elected by the Insider).

2. Fully vested dividend equivalents received on restricted stock units payable solely in shares of common stock following the date the Insider ceases serving as a director.

3. Stock units are 100% vested at the time of the acquisition.

4. Phantom stock units will remain in the Director's Deferred Compensation Plan until such account balance is distributed pursuant to Insider's distribution elections(s) on file.

	/s/ Lynn M. Floeter, attorney-in-fact for Robert A. Jeffe	12/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Associated Banc-Corp (ASB) disclose in this Form 4?

The filing shows director Robert A. Jeffe acquired additional Associated Banc-Corp common stock on December 15, 2025, increasing his directly owned holdings.

How many Associated Banc-Corp (ASB) shares did the director acquire and at what price?

On December 15, 2025, he acquired 45 and 377 shares of Associated Banc-Corp common stock at $26.94 per share.

What is the directors total directly owned Associated Banc-Corp common stock after the transaction?

Following the reported transactions, the director beneficially owns 48,325 shares of Associated Banc-Corp common stock directly.

How many phantom stock units tied to Associated Banc-Corp stock does the director hold?

He holds 90,417.557 phantom stock units, each tied to Associated Banc-Corp common stock, reflected as derivative securities.

How do the dividend equivalent units related to Associated Banc-Corp stock vest and pay out?

The explanation states that dividend equivalent units vest on the first anniversary of the related restricted stock unit grant or as fully vested equivalents payable in shares after the director ceases serving.

What happens to the phantom stock units in the Associated Banc-Corp Director's Deferred Compensation Plan?

The phantom stock units remain in the Director's Deferred Compensation Plan until the account balance is distributed according to the director's distribution elections on file.