Associated Banc-Corp EVP Files Form 4 After ESPP Purchase

Rhea-AI Filing Summary

Steven S. Zandpour, EVP of Associated Banc-Corp (ASB), purchased shares under the company's Employee Stock Purchase Plan on 08/15/2025. The Form 4 shows a purchase transaction executed under Code J(1) with a price of $25.079 per share and an indicated acquired amount of 93.2071 shares, resulting in reported beneficial ownership of 14,123.5977 shares following the transaction. The filing was signed by a power of attorney on behalf of Mr. Zandpour on 08/18/2025. The form notes the purchase was made through the issuer's ESPP, with no derivative transactions disclosed.

Insights

Financial Analyst

TL;DR: Routine ESPP purchase by an executive; small, non-material increase in insider holdings.

The reported purchase on 08/15/2025 appears to be a standard payroll-deduction acquisition under the Employee Stock Purchase Plan as noted in the filing. The transaction size (approximately 93.21 shares at $25.079) is modest relative to the executive's total reported holdings of 14,123.5977 shares. There are no sales, option exercises, or derivative transactions reported, and the disclosure does not indicate any unusual compensation or one-off transfer. From a financial-materiality perspective, this transaction is routine and unlikely to move investor valuation assumptions.

Corporate Governance Expert

TL;DR: Proper Section 16 disclosure of an ESPP purchase by an officer; procedural compliance appears intact.

The Form 4 identifies Steven S. Zandpour as an executive vice president and reports a purchase under Code J(1) consistent with an employee stock purchase plan. The form is signed by a POA and includes the explanatory note that the shares were purchased within the issuer's ESPP. There are no indications of late amendment, non-standard transaction codes, or indirect ownership arrangements disclosed. This filing satisfies routine SEC Section 16 reporting requirements for executive purchases.

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
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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^*

ZANDPOUR STEVEN S.

(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)
	EVP

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		J(1)	V	93.2071	A	$25.079	14,123.5977	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. Shares were purchased within the Issuer's Employee Stock Purchase Plan.

	/s/ Lynn M. Floeter, by POA for Steven S. Zandpour	08/18/2025
	** 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.

FAQ

What transaction did Steven S. Zandpour report on Form 4 for ASB?

The Form 4 reports a purchase under the issuer's Employee Stock Purchase Plan (ESPP) on 08/15/2025.

How many shares did the reporting person acquire and at what price?

The filing shows an acquired amount of 93.2071 shares at a price of $25.079 per share.

What was the reporting person's beneficial ownership after the transaction?

The reported beneficial ownership following the transaction was 14,123.5977 shares.

What is Steven S. Zandpour's relationship to Associated Banc-Corp (ASB)?

The form lists Steven S. Zandpour as an Executive Vice President (EVP) and an officer of the issuer.

When was the Form 4 signed and by whom?

The Form 4 was signed on 08/18/2025 by Lynn M. Floeter, acting by power of attorney for Steven S. Zandpour.