Associated Banc-Corp director awarded units

ASB director Cory L. Nettles reported equity awards and vested phantom stock units tied to 52,862.625 underlying common shares.

Rhea-AI Filing Summary

ASSOCIATED BANC-CORP (ASB) director Cory L. Nettles reported equity-based compensation awards in common stock on September 15, 2026. He acquired 36 dividend equivalent units that vest on the first anniversary of the related restricted stock units and 335 fully vested dividend equivalent units, all payable solely in shares of common stock.

He also reports a direct holding of phantom stock units tied to 52,862.625 underlying common shares, which are 100% vested and will remain in the Director's Deferred Compensation Plan until distributed under his elections. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Grant/Award: 371 shares

Grant/Award 3 txns

Insider Nettles Cory L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock $0.01 Par Value F1	36	$30.32	$1K
Grant/Award	Common Stock $0.01 Par Value F2	335	$30.32	$10K
holding	Phantom Stock Unit F3, F4	--	--	--

Holdings After Transaction: Common Stock $0.01 Par Value — 47,630 shares (Direct); Phantom Stock Unit — 52,862.625 contracts (Direct)

Footnotes (4)

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).
2. F2. 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. F3. Stock units are 100% vested at the time of the acquisition.
4. F4. 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.

Key Figures

Dividend equivalent units (anniversary vesting): 36 units Fully vested dividend equivalent units: 335 units Reference price per ASB common share: $30.32 per share +2 more

5 metrics

Dividend equivalent units (anniversary vesting) 36 units Grant or award acquisition on September 15, 2026; payable solely in shares upon vesting

Fully vested dividend equivalent units 335 units Grant or award acquisition on September 15, 2026; payable solely in shares after director service ends

Reference price per ASB common share $30.32 per share Used for both dividend equivalent unit award entries on September 15, 2026

Underlying shares for phantom stock units 52,862.625 shares Directly held phantom stock units tied to ASB common stock; 100% vested

Exercise price of phantom stock units $0.00 Phantom stock units with an exercise price of 0.0000 and no stated expiration

Key Terms

Dividend equivalent units, Restricted stock units, Phantom stock units, Director's Deferred Compensation Plan

4 terms

Dividend equivalent units financial

"Dividend equivalent units, which vest on the first anniversary of the grant"

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

"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.

Phantom stock units financial

"Phantom stock units will remain in the Director's Deferred Compensation Plan"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Director's Deferred Compensation Plan financial

"will remain in the Director's Deferred Compensation Plan until such account"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ASB director Cory L. Nettles report acquiring on this Form 4?

Cory L. Nettles reported two equity-based awards on September 15, 2026: 36 dividend equivalent units that vest on the first anniversary of related restricted stock units and 335 fully vested dividend equivalent units, each payable solely in shares of Associated Banc-Corp common stock.

What price is associated with the ASB equity awards reported by Cory L. Nettles?

Both reported awards use a reference price of $30.32 per share for Associated Banc-Corp common stock. These entries relate to grant or award acquisitions of dividend equivalent units, not open-market purchases or sales.

How many phantom stock units tied to ASB shares does Cory L. Nettles hold?

Cory L. Nettles reports a direct position in phantom stock units corresponding to 52,862.625 underlying shares of Associated Banc-Corp common stock. These units are 100% vested and held in the Director's Deferred Compensation Plan until distribution under his elections.

Are the ASB dividend equivalent units for Cory L. Nettles paid in cash or stock?

The filing states that both sets of dividend equivalent units are payable solely in shares of common stock, either upon vesting (for units vesting on the first anniversary of the related restricted stock units) or following the date he ceases serving as a director.

Does the ASB Form 4 indicate any Rule 10b5-1 trading plan for Cory L. Nettles?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirming a plan, and no footnote states that the reported transactions were made under a Rule 10b5-1 or similar pre-arranged trading arrangement.

Are the phantom stock units for ASB immediately distributed to Cory L. Nettles?

No. The phantom stock units, which are 100% vested, will remain in the Director's Deferred Compensation Plan until the account balance is distributed according to Cory L. Nettles’s distribution elections on file.

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

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Available on EDGAR 09/17/2026 - 12:59 PM Accepted by SEC EDGAR 09/17/2026 - 12:59 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^*

Nettles Cory L

(Last) (First) (Middle)

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)
09/15/2026

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	09/15/2026		A(1)		36	A	$30.32	47,295	D
Common Stock $0.01 Par Value	09/15/2026		A(2)		335	A	$30.32	47,630	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	52,862.625		52,862.625	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	09/17/2026
	** 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)