Associated Banc-Corp (NYSE: ASB) director discloses stock and unit awards

Rhea-AI Filing Summary

Associated Banc-Corp director Cory L. Nettles reported routine equity awards and holdings changes. On 12/15/2025, he acquired 45 and 365 shares of Associated Banc-Corp common stock at $26.94 per share in two separate transactions, bringing his directly held common stock to 47,007 shares.

The filing explains that some of these amounts represent dividend equivalent units tied to restricted stock units, payable solely in shares of common stock upon vesting or after he ceases serving as a director. It also reports 46,369.504 phantom stock units, which are 100% vested and will remain in the Director's Deferred Compensation Plan until the account balance is distributed according to 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

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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^*

Nettles Cory L

(Last) (First) (Middle)

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	46,642	D
Common Stock $0.01 Par Value	12/15/2025		A(2)		365	A	$26.94	47,007	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	46,369.504		46,369.504	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 Cory L. Nettles	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 activity did Associated Banc-Corp (ASB) report for Cory L. Nettles?

The filing shows that director Cory L. Nettles reported acquisitions of Associated Banc-Corp common stock and changes in his holdings of phantom stock units as of 12/15/2025.

How many Associated Banc-Corp shares did the director acquire in this Form 4?

The report lists two acquisitions of Associated Banc-Corp common stock: 45 shares and 365 shares, each at a price of $26.94 per share.

How many Associated Banc-Corp shares does the director hold directly after these transactions?

Following the reported stock acquisitions, the filing states that Cory L. Nettles directly owns 47,007 shares of Associated Banc-Corp common stock.

What are the dividend equivalent units described in the Associated Banc-Corp (ASB) Form 4?

The explanation notes that dividend equivalent units vest on the first anniversary of the related restricted stock units and are payable solely in shares of common stock upon vesting, subject to any deferral elections by the insider.

What fully vested dividend equivalents are mentioned for the Associated Banc-Corp director?

The filing states that the director received fully vested dividend equivalents on restricted stock units that are payable solely in shares of common stock after the date he ceases serving as a director.

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

The derivative securities table reports 46,369.504 phantom stock units, which are 100% vested and tied to Associated Banc-Corp common stock.

What happens to the phantom stock units in the Director's Deferred Compensation Plan?

The explanation states that phantom stock units will remain in the Director's Deferred Compensation Plan until the account balance is distributed according to the insider's distribution election(s) on file.