Executive VP John A. Utz boosts ASB (NYSE: ASB) holdings via equity plans

Rhea-AI Filing Summary

ASSOCIATED BANC-CORP Executive Vice President John A. Utz reported routine equity-related transactions in company stock. On March 16, 2026, he acquired common shares through compensation and benefit arrangements, including purchases within the Employee Stock Purchase Plan and dividend equivalent units credited under a deferred compensation plan.

Following these transactions, Utz directly holds 123,058.1355 shares of common stock and has an additional 15,624.53 shares held indirectly through a 401(k) Plan. These are compensation and retirement-plan driven entries rather than open-market trading activity.

Insights

Equity compensation analyst

Routine equity compensation and benefit-plan activity, no open-market trading.

The filing shows John A. Utz, an Executive Vice President at ASSOCIATED BANC-CORP, acquiring stock through internal programs. Footnotes explain participation in the Employee Stock Purchase Plan and dividend equivalent units credited to a deferred compensation plan.

These mechanisms are standard for senior executives, aligning a portion of pay and retirement savings with company equity rather than reflecting discretionary market timing. The filing also notes indirect holdings in a 401(k) Plan, underscoring that a meaningful part of his position is tied to long-term benefit arrangements.

There are no reported open-market buys or sales, and no derivative exercises. From an investor perspective, this looks like ongoing compensation and savings activity, with future context likely to come from subsequent Forms 4 and periodic reports rather than from this filing alone.

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^*

Utz John A.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

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		J(1)	V	54.079	A	$24.918	122,539.1355	D
Common Stock $0.01 Par Value	03/16/2026		A(2)		519	A	$24.59	123,058.1355	D
Common Stock $0.01 Par Value								15,624.53	I	401(k) Plan

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.

2. Dividend equivalent units earned on vested shares, a portion of which the reporting person has elected to defer upon vesting, and which will remain in the Executive's Deferred Compensation Plan until distributed pursuant to the reporting person's distribution election on file.

	/s/ Lynn M. Floeter, attorney-in-fact for John A. Utz	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 transactions did ASB Executive Vice President John A. Utz report?

John A. Utz reported equity-related transactions in Associated Banc-Corp common stock on March 16, 2026. Activity included shares acquired through compensation and employee benefit programs, plus updates to indirect holdings in a 401(k) plan, rather than discretionary open-market buying or selling.

How many ASB shares does John A. Utz hold directly after this Form 4?

After the reported transactions, John A. Utz directly holds 123,058.1355 shares of Associated Banc-Corp common stock. This reflects his updated ownership following compensation-related share acquisitions, without any reported open-market purchases or sales in this specific filing.

What indirect ASB holdings does John A. Utz report in this filing?

The filing shows John A. Utz with 15,624.53 Associated Banc-Corp shares held indirectly through a 401(k) Plan. These retirement-plan holdings are separate from his directly owned shares and represent long-term savings rather than active trading activity in the open market.

Were the ASB insider transactions by John A. Utz open-market trades?

The transactions are not characterized as open-market trades. The Form 4 and footnotes describe shares tied to the Employee Stock Purchase Plan and dividend equivalent units in a deferred compensation plan, indicating routine compensation and benefit activity instead of discretionary buying or selling.

What role do dividend equivalent units play in John A. Utz’s ASB holdings?

Dividend equivalent units credited on vested shares are included in Utz’s reported holdings. A portion is deferred into an Executive Deferred Compensation Plan and will be distributed later according to his elections, aligning his compensation further with Associated Banc-Corp’s stock performance over time.

Does this ASB Form 4 indicate significant insider selling or buying pressure?

The Form 4 does not show significant insider selling or open-market buying. It primarily reflects routine equity compensation, employee stock purchase plan participation, and retirement-plan related holdings, which are common for senior executives and typically do not signal immediate trading pressure.