Associated Banc-Corp (NYSE: ASB) director adds 45 shares in Form 4 filing

Rhea-AI Filing Summary

Associated Banc-Corp director Kristen M. Ludgate reported acquiring additional equity in the company through a small stock-based award. On 12/15/2025, she acquired 45 shares of Associated Banc-Corp common stock at a price of $26.94 per share, bringing her total directly owned common shares to 5,418 following the transaction.

The award relates to dividend equivalent units connected to previously granted restricted stock units. These dividend equivalents vest on the first anniversary of the related restricted stock unit grant and are payable solely in shares of common stock when they vest, with an option for deferral if elected.

Insider Trade Summary

Net Buyer: 45 shares

Net Buy 1 txn

Insider Ludgate Kristen M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock $0.01 Par Value	45	$26.94	$1K

Holdings After Transaction: Common Stock $0.01 Par Value — 5,418 shares (Direct)

Footnotes (1)

1. F1. 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).

FAQ

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

A director of Associated Banc-Corp, Kristen M. Ludgate, reported acquiring 45 shares of common stock on 12/15/2025 through a stock-based award.

At what price were the new Associated Banc-Corp (ASB) shares acquired?

The 45 shares of Associated Banc-Corp common stock were acquired at a price of $26.94 per share.

How many Associated Banc-Corp (ASB) shares does the director own after this transaction?

Following the reported transaction, the director beneficially owns 5,418 shares of Associated Banc-Corp common stock in direct ownership.

What are dividend equivalent units in this Associated Banc-Corp (ASB) insider report?

The filing explains that the transaction involves dividend equivalent units, which are tied to restricted stock units and are payable solely in shares of common stock upon vesting.

When do the dividend equivalent units related to Associated Banc-Corp (ASB) vest?

The dividend equivalent units vest on the first anniversary of the grant of the restricted stock units to which they relate, and are then settled in common stock, subject to any deferral election.

What is the director’s relationship to Associated Banc-Corp (ASB) in this Form 4 filing?

The reporting person is identified as a Director of Associated Banc-Corp and the form is filed by one reporting person.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 12/16/2025 - 05:36 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Ludgate Kristen M

(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	5,418	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

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).

	/s/ Lynn M. Floeter, by POA from Kristen M. Ludgate	12/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.