Form 4: ASB Director Owen J. Sullivan Acquires Shares via Compensation Plan

Associated Banc-Corp Director Owen J. Sullivan acquired 45 shares of common stock at $26.94 per share on December 15, 2025, through dividend equivalent units, increasing his direct beneficial ownership to 5,418 shares.

Summary

• Owen J. Sullivan, a Director of Associated Banc-Corp (ASB), acquired 45 shares of common stock.
• The transaction occurred on December 15, 2025, at a price of $26.94 per share.
• The acquisition was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged transaction.
• The shares were acquired as dividend equivalent units, which vest on the first anniversary of the related restricted stock units and are payable in common stock.
• Following this transaction, Owen J. Sullivan directly beneficially owns 5,418 shares of Associated Banc-Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as a director's acquisition of shares, even through a compensation plan, generally aligns their interests with shareholders. The transaction is pre-planned and routine, not indicating any significant new developments.

Positives

• The acquisition of shares by a director, even through a compensation plan, generally signals alignment of management interests with shareholders.
• The transaction was pre-planned under a Rule 10b5-1(c) plan, indicating a structured approach to insider stock transactions.

Future Outlook

The filing indicates that dividend equivalent units vest on the first anniversary of the grant of related restricted stock units and are payable in common stock upon vesting, subject to deferral if elected by the insider.

Industry Context

This insider transaction is a routine disclosure for publicly traded companies, reflecting a director's participation in a compensation plan. It does not provide broader industry trends or competitive insights.

Related Party Transactions

• The transaction involves an acquisition of shares by a director, which is a common form of insider transaction.

Stakeholder Impact

• Shareholders may view the director's continued accumulation of shares, even through compensation, as a positive sign of confidence in the company's future.

Next Steps

• Dividend equivalent units are expected to vest on the first anniversary of the grant of the restricted stock units to which they relate.

Key Dates

Keywords

ASB, Associated Banc-Corp, Owen J. Sullivan, Insider Transaction, Form 4, Director Stock Acquisition, Dividend Equivalent Units, Rule 10b5-1