Form 4: ASB Director John B. Williams Reports Future Stock Acquisitions

Associated Banc-Corp Director John B. Williams reported future acquisitions of common stock and phantom stock units, primarily through dividend equivalents, effective December 15, 2025.

Summary

• John B. Williams, a Director of Associated Banc-Corp (ASB), reported transactions scheduled for December 15, 2025.
• Williams is set to acquire 45 shares of Common Stock ($0.01 Par Value) at a price of $26.94 per share, stemming from dividend equivalent units that vest on the first anniversary of related restricted stock units.
• An additional 377 shares of Common Stock ($0.01 Par Value) will be acquired at $26.94 per share, representing fully vested dividend equivalents on restricted stock units, payable after Williams ceases serving as a director.
• Following these transactions, Williams will directly own 68,699 shares of Common Stock and indirectly own 8,000 shares through an IRA.
• Williams also holds 5,097.848 phantom stock units, which are 100% vested at acquisition and will remain in a nonqualified benefit plan until distributed per election.

Sentiment

Score: 5

Explanation: The filing is neutral as it reports routine, pre-scheduled insider transactions related to compensation, rather than discretionary open market purchases or sales that might signal management's view on the company's prospects.

Positives

• The acquisition of shares through dividend equivalents indicates a routine compensation structure for the director.
• Phantom stock units are 100% vested at the time of acquisition, providing immediate beneficial ownership.

Future Outlook

The filing details future transactions scheduled for December 15, 2025, indicating the vesting and acquisition of shares based on existing compensation plans. Phantom stock units will remain in a nonqualified benefit plan until distributed according to the insider's election.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, specifically related to director compensation in the banking sector. Such filings provide transparency regarding how executives and directors are compensated with company equity, which is a common practice across industries, including financial services.

Comparison to Industry Standards

• The use of restricted stock units and dividend equivalents as part of director compensation is a standard practice in the financial services industry, aligning director interests with shareholder value.
• The reporting of phantom stock units, which are cash-settled or stock-settled awards tied to the company's stock price, is also a common component of executive and director compensation plans in publicly traded companies.

Stakeholder Impact

• Shareholders: Provides transparency regarding director compensation and equity ownership, which can influence perceptions of alignment between management and shareholder interests.
• Employees: No direct impact mentioned, but general compensation practices can indirectly affect employee morale and retention.

Next Steps

• Dividend equivalent units related to the first acquisition will vest on the first anniversary of the grant of the restricted stock units to which they relate.
• The fully vested dividend equivalents from the second acquisition are payable solely in shares of common stock following the date the Insider ceases serving as a director.
• Phantom stock units will remain in the Insider's nonqualified benefit plan until distributed pursuant to the Insider's distribution election(s) on file.

Key Dates

Keywords

Associated Banc-Corp, ASB, Form 4, Insider Trading, Director Stock Acquisition, Common Stock, Phantom Stock Units, Dividend Equivalents, Beneficial Ownership