[Form 4] ASSOCIATED BANC-CORP Insider Trading Activity

Rhea-AI Filing Summary

Derek S. Meyer, EVP and Chief Financial Officer of Associated Banc-Corp (symbol provided as ASBA), reported a Form 4 disclosing a purchase on 09/15/2025 of 23 shares of the issuer's common stock at a price of $25.92 per share. Following the reported transaction, the filing lists 51,184.379 shares beneficially owned. The filing includes an explanation that the shares represent fully vested dividend equivalents awarded under performance-based RSUs, payable solely in common stock and subject to deferral until separation if elected by the insider. The form is signed by an attorney-in-fact on 09/17/2025.

Positive

• Compliance: The Form 4 provides required details including transaction date, price, and post-transaction ownership, indicating timely Section 16 reporting.
• Transparency: The filing explains the economic nature as dividend equivalents from performance-based RSUs, clarifying the source of shares.

Negative

• Immaterial size: The reported acquisition of 23 shares is small relative to the reported total beneficial ownership and unlikely to be materially meaningful to investors.
• Ambiguity in ownership units: The filing lists a fractional total (51,184.379) which may require additional context from company records to fully interpret.

Insights

Corporate Governance Expert

TL;DR: Officer purchased a small number of shares via vested dividend equivalents from performance RSUs; filing is routine and compliant.

The Form 4 documents a modest acquisition tied to compensation plan mechanics rather than an open-market purchase. The disclosure identifies the economic source as dividend equivalents on performance-based RSUs, which clarifies that the transaction arose from compensation settlement rather than discretionary buying. The filing is signed by an attorney-in-fact and includes transaction date, price, and post-transaction beneficial ownership, meeting Section 16 reporting requirements.

Securities Analyst

TL;DR: Transaction size is immaterial to company capitalization but helpful for insider ownership transparency.

The report shows acquisition of 23 shares at $25.92 and a reported total beneficial ownership of 51,184.379 shares. Because the form states the shares are dividend equivalents from performance RSUs, the transaction reflects compensation settlement mechanics. The clear dating and signature satisfy disclosure controls; there is no indication of trading pursuant to a 10b5-1 plan in the 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
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^*

Meyer Derek 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, Chief Financial 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		A(1)		23	A	$25.92	51,184.379	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. Fully vested dividend equivalents awarded pursuant to performance-based RSUs, payable solely in shares of common stock and subject to deferral until separation, as elected by the Insider.

	/s/ Lynn M. Floeter, attorney-in-fact for Derek S. Meyer	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 did Derek S. Meyer report on the Form 4 for ASBA?

He reported an acquisition of 23 shares of Associated Banc-Corp common stock on 09/15/2025 at $25.92 per share.

What is the source of the shares reported on this Form 4?

The filing states the shares are fully vested dividend equivalents awarded pursuant to performance-based RSUs, payable solely in shares of common stock.

How many shares does the filing show as beneficially owned after the transaction?

The Form 4 lists 51,184.379 shares as beneficially owned following the reported transaction.

When was the Form 4 signed and by whom?

The document is signed by /s/ Lynn M. Floeter, attorney-in-fact for Derek S. Meyer on 09/17/2025.

Does the Form 4 indicate the transaction was made under a 10b5-1 trading plan?

The document does not indicate that the transaction was made pursuant to a 10b5-1 plan.