Associated Banc (NYSE: ASB) EVP reports LTIP vesting and tax share withholding

Rhea-AI Filing Summary

ASSOCIATED BANC-CORP Executive Vice President Patrick Edward Ahern reported equity compensation activity in company stock. On 2026-03-09, he acquired 10,147 shares of common stock as a grant or award, tied to vested 2023 long-term incentive performance shares subject to 3-year cliff vesting in 2026.

On the same date, 4,496 shares were disposed of to cover tax withholding obligations arising from this vesting, a non-market, administrative transaction rather than an open-market sale. Following these transactions, he holds 45,052 common shares directly and 5,505.21 shares indirectly through a 401(k) plan.

Insights

Equity compensation analyst

Routine LTIP vesting with tax withholding; no open-market trading signal.

The transactions show Patrick Edward Ahern, an Executive Vice President of ASSOCIATED BANC-CORP, receiving 10,147 common shares as vested performance-based long-term incentive awards granted in 2023, which reached their 3-year cliff vest in 2026.

A separate disposition of 4,496 shares at $25.08 per share covered tax withholding obligations from the vesting, a standard non-discretionary mechanism rather than a sale reflecting his market view. After these entries, he holds 45,052 shares directly plus 5,505.21 shares indirectly via a 401(k) plan, indicating continued substantial exposure to the stock.

Insider Trade Summary

Net Buyer: 5,651 shares

Net Buy 3 txns

Insider Ahern Patrick Edward

Role Executive Vice President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock $0.01 Par Value	10,147	$25.08	$254K
Exercise Price or Tax Liability	Common Stock $0.01 Par Value	4,496	$25.08	$113K
holding	Common Stock $0.01 Par Value	--	--	--

Holdings After Transaction: Common Stock $0.01 Par Value — 45,052 shares (Direct); Common Stock $0.01 Par Value — 5,505.21 shares (Indirect, 401(k) plan)

Footnotes (2)

1. F1. Represents vested Performance Shares (LTIP) granted in 2023 and subject to 3-year cliff vesting in 2026.
2. F2. Shares were withheld to satisfy tax withholding obligations arising from vesting of Performance Shares (LTIP) in 2026.

FAQ

What insider transactions did ASB executive Patrick Ahern report on this Form 4?

Executive Vice President Patrick Ahern reported an equity award vesting of 10,147 shares of Associated Banc-Corp common stock and a related tax-withholding disposition of 4,496 shares, both effective on March 9, 2026, with no open-market buying or selling activity disclosed.

Was the Associated Banc-Corp (ASB) insider activity an open-market stock purchase or sale?

No open-market trades were reported. The Form 4 shows a grant or award acquisition of 10,147 shares and a code F disposition of 4,496 shares solely to satisfy tax withholding obligations tied to vesting performance shares, not a discretionary market sale or purchase.

How many Associated Banc-Corp shares does Patrick Ahern hold after these Form 4 transactions?

After the reported March 9, 2026 transactions, Patrick Ahern holds 45,052 Associated Banc-Corp common shares directly and an additional 5,505.21 shares indirectly through a 401(k) plan, indicating a meaningful continuing ownership position in the company’s stock.

What triggered the 10,147-share award to ASB Executive Vice President Patrick Ahern?

The 10,147-share award reflects vested Performance Shares (LTIP) originally granted in 2023, which were subject to 3-year cliff vesting in 2026. Their vesting triggered the share delivery reported as a grant or award acquisition on the Form 4 filing.

Why were 4,496 Associated Banc-Corp shares disposed of in this insider filing?

The 4,496-share disposition, coded F, represents shares withheld to satisfy tax withholding obligations arising from the vesting of the 2023 long-term incentive performance shares in 2026, functioning as an administrative tax payment rather than a voluntary share sale.

Does this ASB Form 4 suggest a change in Patrick Ahern’s sentiment toward the stock?

The filing primarily reflects routine long-term incentive vesting and associated tax withholding, not discretionary buying or selling. With 45,052 shares held directly and 5,505.21 indirectly, it indicates ongoing exposure rather than a clear shift in sentiment based on these transactions alone.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/11/2026 - 12:52 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^*

Ahern Patrick Edward

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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	03/09/2026		A(1)		10,147	A	$25.08	49,548	D
Common Stock $0.01 Par Value	03/09/2026		F(2)		4,496	D	$25.08	45,052	D
Common Stock $0.01 Par Value								5,505.21	I	401(k) plan

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. Represents vested Performance Shares (LTIP) granted in 2023 and subject to 3-year cliff vesting in 2026.

2. Shares were withheld to satisfy tax withholding obligations arising from vesting of Performance Shares (LTIP) in 2026.

	/s/Lynn M. Floeter, attorney-in-fact for Patrick Edward Ahern	03/11/2026
	** 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.