[Form 4] ASSOCIATED BANC-CORP Insider Trading Activity

Rhea-AI Filing Summary

Insider purchase under ESPP at Associated Banc-Corp (ASBA) — Terry Lynn Williams, Chief Information Officer and director, purchased 84.0946 shares of Common Stock $0.01 par value on 09/15/2025 under the issuer's Employee Stock Purchase Plan at a reported price of $26.161 per share. After the transaction, the filing reports 12,733.8737 shares beneficially owned. The Form 4 was signed by an attorney-in-fact on 09/17/2025. The filing indicates the purchase code as J(1) and discloses direct ownership.

Positive

• Officer purchased shares under the Employee Stock Purchase Plan, increasing alignment with shareholders
• Form 4 properly discloses transaction date (09/15/2025) and execution details, signed by attorney-in-fact

Negative

• None.

Insights

Securities Analyst

TL;DR: A routine insider purchase via the company ESPP; modest share acquisition relative to total holdings.

The filing documents a small, direct acquisition of 84.0946 shares by the CIO under the Employee Stock Purchase Plan at $26.161 per share, increasing reported beneficial ownership to 12,733.8737 shares. This is a standard employee-plan purchase rather than a market transaction or open-market buyback and provides a modest alignment of officer interests with shareholders. No derivative activity or disposition is reported.

Corporate Governance Expert

TL;DR: Compliance-focused disclosure showing plan-based purchase; no governance red flags in this filing.

The Form 4 shows proper Section 16 reporting for an ESPP purchase, with execution dated 09/15/2025 and signature dated 09/17/2025 by an attorney-in-fact. The transaction code J(1) and the explanatory note make clear the purchase was under the issuer's plan. There are no indications of unusual timing or related-party transactions in this document.

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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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^*

Williams Terry Lynn

(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)
	Chief Information Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		J(1)	V	84.0946	A	$26.161	12,733.8737	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, attorney-in-fact for Terry Lynn Williams	09/17/2025
	** 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 ASBA insider Terry Lynn Williams report on Form 4?

The report shows a purchase of 84.0946 shares of common stock under the issuer's Employee Stock Purchase Plan on 09/15/2025 at $26.161 per share.

How many shares does Terry Lynn Williams beneficially own after the transaction?

The filing reports 12,733.8737 shares beneficially owned following the reported transaction.

Was the purchase an open-market transaction or part of a company plan?

The filing explicitly states the shares were purchased under the issuer's Employee Stock Purchase Plan.

When was the Form 4 signed and by whom?

The Form 4 was signed on 09/17/2025 by /s/ Lynn M. Floeter, attorney-in-fact for Terry Lynn Williams.