Director at Associated Banc-Corp (NYSE: ASB) granted 44 common shares

Rhea-AI Filing Summary

Ludgate Kristen M reported acquisition or exercise transactions in this Form 4 filing.

ASSOCIATED BANC-CORP director Kristen M. Ludgate reported an award of 44 shares of common stock at $24.59 per share. This grant increased her direct holdings to 10,047 common shares. The award relates to dividend equivalent units that vest on the first anniversary of the related restricted stock units and are payable solely in shares upon vesting, subject to any deferral election by the insider.

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)
03/16/2026

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	03/16/2026		A(1)		44	A	$24.59	10,047	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	03/17/2026
	** 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.

FAQ

What insider transaction did ASB director Kristen M. Ludgate report?

Kristen M. Ludgate reported an award of 44 shares of Associated Banc-Corp common stock. The shares were granted as part of dividend equivalent units and are tied to restricted stock units that vest later, reflecting routine equity-based director compensation.

At what price were the new ASB shares awarded to Kristen M. Ludgate?

The 44 common shares were awarded at $24.59 per share. This price is used for the reported transaction value and reflects the grant terms, not an open-market purchase, since the filing classifies it as a grant or award acquisition.

How many ASB shares does Kristen M. Ludgate hold after this Form 4?

After the reported award, Kristen M. Ludgate directly holds 10,047 shares of Associated Banc-Corp common stock. This total includes the 44 newly awarded shares and represents her direct ownership position reported in this Form 4 filing.

What are dividend equivalent units in the ASB Form 4 filing?

Dividend equivalent units mirror dividends on underlying restricted stock units and convert into shares later. In this case, they vest on the first anniversary of the related restricted stock units and are payable solely in Associated Banc-Corp common shares upon vesting, subject to any deferral election.

When do the dividend equivalent units reported by ASB’s director vest?

The dividend equivalent units vest on the first anniversary of the grant of the related restricted stock units. Once vested, they are payable only in Associated Banc-Corp common stock, although the insider may elect to defer receipt according to the terms described.

Is Kristen M. Ludgate’s ASB transaction a market purchase or a grant?

The transaction is a grant or award acquisition, not a market purchase. The Form 4 uses transaction code A and classifies it as a grant, reflecting compensation in the form of equity rather than an open-market buy order.