State Street Reports 5.1% Stake in Associated Banc‑Corp

Rhea-AI Filing Summary

State Street Corporation reported beneficial ownership of 8,524,500 shares of Associated Banc‑Corp common stock, representing 5.1% of the class. The filing shows 0 shares with sole voting power and sole dispositive power, 1,183,812 shares with shared voting power, and 8,524,500 shares with shared dispositive power, indicating the position is held with shared authority rather than as a single controlling holder.

The filing identifies several State Street affiliates acting in investment advisor roles that are associated with the reported holdings. The filer certifies the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Positive

• 8,524,500 shares disclosed, representing a clear and material 5.1% ownership stake
• Filing explicitly specifies voting and dispositive power breakdowns (0 sole, 1,183,812 shared voting; 8,524,500 shared dispositive), improving transparency
• Identification of State Street affiliates acting as investment advisors clarifies which entities are associated with the holdings

Negative

• None.

Insights

Financial Analyst

TL;DR: State Street holds a material passive stake of 5.1% in ASB with shared voting/dispositive rights; disclosure is material but not control-seeking.

The report discloses 8,524,500 shares (5.1% of the class) under shared dispositive authority and 1,183,812 shares under shared voting authority. The absence of sole voting or dispositive power suggests a pooled or client-driven holding structure rather than direct control. Several State Street affiliates are listed as investment advisors, consistent with holdings managed on behalf of clients. For investors, this is a material ownership disclosure but shows no single-actor takeover intent based on the stated powers.

Corporate Governance Expert

TL;DR: The filing documents shared governance authority but no sole control; the stake is material yet appears passive under reported powers.

Key governance metrics are explicit: 0 sole votes, 1,183,812 shared votes, and shared dispositive authority over 8,524,500 shares. The filing classifies the reporting person type and lists multiple State Street advisor entities by name and role. These disclosures are important for board and shareholder transparency because they reveal a >5% beneficial owner while clarifying the distributed nature of voting and disposition rights.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ASSOCIATED BANC-CORP

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

045487105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 045487105

1

Names of Reporting Persons

STATE STREET CORPORATION

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,183,812.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,524,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,524,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ASSOCIATED BANC-CORP
(b)	Address of issuer's principal executive offices: 433 MAIN STREET , GREEN BAY, WISCONSIN, 54301
Item 2.
(a)	Name of person filing: STATE STREET CORPORATION;
(b)	Address or principal business office or, if none, residence: ONE CONGRESS STREET, SUITE 1, BOSTON MA 02114, UNITED STATES
(c)	Citizenship: MA
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 045487105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8524500.00
(b)	Percent of class: 5.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,183,812
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 8,524,500
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. NOT APPLICABLE
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. SSGA FUNDS MANAGEMENT, INC. (IA);STATE STREET GLOBAL ADVISORS ASIA LIMITED (IA);STATE STREET GLOBAL ADVISORS EUROPE LIMITED (IA);STATE STREET GLOBAL ADVISORS LIMITED (IA);STATE STREET GLOBAL ADVISORS TRUST COMPANY (IA);STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED (IA);STATE STREET GLOBAL ADVISORS, LTD. (IA);
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. NOT APPLICABLE
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. NOT APPLICABLE

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

STATE STREET CORPORATION

Signature:	ELIZABETH SCHAEFER
Name/Title:	SENIOR VICE PRESIDENT, CHIEF ACCOUNTING OFFICER
Date:	08/08/2025

FAQ

Who filed the Schedule 13G for ASB?

The filing was made by State Street Corporation.

How many ASB shares does State Street report owning?

The filing reports beneficial ownership of 8,524,500 shares.

What percentage of ASB does this represent?

The reported position represents 5.1% of the class.

What voting and dispositive powers are reported?

The filer reports 0 shares with sole voting power, 1,183,812 shares with shared voting power, 0 sole dispositive power, and 8,524,500 shared dispositive power.

Are any State Street affiliates identified as holders?

Yes; the filing lists several State Street affiliates acting in investment advisor (IA) capacities associated with the reported holdings.

Does the filing state the purpose of the holdings?

The filer certifies the securities are held in the ordinary course of business and not to change or influence control of the issuer.