Form 4: ASB Director Cory Nettles Increases Stake

Associated Banc-Corp Director Cory L. Nettles acquired 406 shares of common stock through dividend equivalent units, boosting his beneficial ownership to 46,597 shares.

Summary

• Cory L. Nettles, a Director of Associated Banc-Corp (ASB), acquired additional shares of common stock.
• The transactions occurred on September 15, 2025.
• A total of 406 shares were acquired through dividend equivalent units.
• 45 shares were acquired as dividend equivalent units, which vest on the first anniversary of the grant of the related restricted stock units.
• 361 shares were acquired as fully vested dividend equivalents received on restricted stock units, payable solely in shares of common stock following the date Mr. Nettles ceases serving as a director.
• The acquisition price for both transactions was $25.92 per share.
• Following these transactions, Mr. Nettles beneficially owns 46,597 shares of Associated Banc-Corp common stock.

Sentiment

Score: 7

Explanation: The acquisition of additional shares by a director, particularly through dividend reinvestment mechanisms, generally signals confidence in the company's future performance and aligns management interests with shareholders. This is a positive, albeit routine, indicator.

Positives

• Director Cory L. Nettles increased his beneficial ownership in Associated Banc-Corp by acquiring 406 shares, signaling continued confidence in the company.
• The acquisition of shares through dividend equivalent units demonstrates ongoing participation and aligns management interests with shareholders.
• Total beneficial ownership increased to 46,597 shares, indicating a significant stake held by a director.

Future Outlook

Dividend equivalent units related to 45 shares will vest on the first anniversary of the grant of the restricted stock units to which they relate. Fully vested dividend equivalents related to 361 shares are payable solely in shares of common stock following the date the Insider ceases serving as a director.

Industry Context

This insider transaction is specific to Associated Banc-Corp and reflects a director's equity compensation and ownership. It does not directly relate to broader industry trends but is a routine disclosure for publicly traded companies regarding insider holdings.

Related Party Transactions

• Director Cory L. Nettles acquired shares of Associated Banc-Corp common stock through dividend equivalent units, which constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholders due to increased personal ownership.
• Management: Reinforces confidence in the company's strategy and future among the leadership team.

Next Steps

• Vesting of 45 dividend equivalent units on the first anniversary of the related restricted stock unit grant.
• Payment of 361 fully vested dividend equivalents in common stock upon cessation of director service.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of shares by a director through dividend equivalent units, which is a common component of executive compensation. While it demonstrates continued insider ownership and alignment with shareholder interests, it does not present new material information or a significant change in the company's fundamentals that would warrant a change in investment recommendation based solely on this filing. Investors should consider this as a minor positive data point within a broader investment thesis.

Keywords

Associated Banc-Corp, ASB, Cory L. Nettles, Insider Trading, Form 4, Director Stock Acquisition, Dividend Equivalent Units, Common Stock