Associated Banc-Corp (NYSE: ASB) director granted 38 shares in equity award

Rhea-AI Filing Summary

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

ASSOCIATED BANC-CORP director Kristen M. Ludgate received a compensation-related stock award of 38 shares of common stock. The shares were granted on June 15, 2026 at a value of $29.22 per share, reflecting the grant date fair value used for reporting.

After this award, Ludgate directly holds 10,085 shares of Associated Banc-Corp common stock. The filing characterizes the transaction as a grant or award rather than an open-market purchase, meaning it represents equity compensation, not a discretionary buy in the market. A footnote explains that related dividend equivalent units are payable in shares upon vesting of the underlying restricted stock units.

Insider Trade Summary

Net Buyer: 38 shares

Net Buy 1 txn

Insider Ludgate Kristen M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock $0.01 Par Value	38	$29.22	$1K

Holdings After Transaction: Common Stock $0.01 Par Value — 10,085 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).

Key Figures

Shares granted: 38 shares Grant value per share: $29.22 per share Shares held after transaction: 10,085 shares

3 metrics

Shares granted 38 shares Compensation grant on June 15, 2026

Grant value per share $29.22 per share Reported value for the 38-share award

Shares held after transaction 10,085 shares Total direct holdings after the grant

Key Terms

dividend equivalent units, restricted stock units, Common Stock $0.01 Par Value, Form 4

4 terms

dividend equivalent units financial

"Dividend equivalent units, which vest on the first anniversary of the grant of the restricted stock units to which they relate"

Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.

restricted stock units financial

"vest on the first anniversary of the grant of the restricted stock units to which they relate"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Common Stock $0.01 Par Value financial

"security_title: Common Stock $0.01 Par Value"

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

What did ASB director Kristen M. Ludgate report in this Form 4?

Kristen M. Ludgate reported receiving 38 shares of Associated Banc-Corp common stock as a grant or award. The shares are part of her equity compensation and not an open-market purchase, increasing her direct holdings to 10,085 shares after the transaction.

Was the ASB Form 4 transaction a stock purchase or a compensation grant?

The transaction was a compensation grant, not an open-market stock purchase. The Form 4 labels it as a grant, award, or other acquisition, indicating these 38 shares were awarded as part of Ludgate’s director compensation rather than bought in the market.

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

After the reported grant, Kristen M. Ludgate directly holds 10,085 shares of Associated Banc-Corp common stock. This total reflects the addition of 38 awarded shares, providing context for the relatively small size of the newly granted amount versus her overall holdings.

What price per share is reported for the ASB stock grant to Kristen M. Ludgate?

The filing reports a value of $29.22 per share for the 38-share grant. This figure represents the grant date fair value used for disclosure purposes on the Form 4, rather than a price paid in an open-market transaction by the director.

What does the footnote about dividend equivalent units mean in the ASB Form 4?

The footnote explains that dividend equivalent units linked to restricted stock units vest on the first anniversary of the related grant. When they vest, they are payable solely in shares of common stock, with possible deferral if elected by the insider under the company’s arrangements.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/17/2026 - 12:38 PM Accepted by SEC EDGAR 06/17/2026 - 12:38 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 WISCONSIN 54301

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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

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

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

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	06/15/2026		A(1)		38	A	$29.22	10,085	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	06/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)