Form 4: ASB Director Robert Jeffe Boosts Stake with RSU Grant

Associated Banc-Corp Director Robert A. Jeffe acquired 4,585 shares of common stock and 96,559.647 phantom stock units as part of compensation.

Summary

• Robert A. Jeffe, a Director of Associated Banc-Corp (ASB), reported an acquisition of securities.
• On February 1, 2026, Jeffe acquired 4,585 shares of ASB common stock (par value $0.01) at a price of $27.26 per share.
• These 4,585 shares are Restricted Stock Units (RSUs) that will fully vest on the first anniversary of the grant date, February 1, 2027.
• Jeffe also acquired 96,559.647 phantom stock units on February 1, 2026, which are 100% vested at the time of acquisition.
• Following these transactions, Jeffe beneficially owns 47,747 shares of common stock directly and 96,559.647 phantom stock units directly.
• The phantom stock units will remain in the Director's Deferred Compensation Plan until distributed per Jeffe's elections.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a director increasing their stake, even through compensation, generally indicates confidence in the company's future prospects and aligns their interests with shareholders.

Positives

• A director increasing their beneficial ownership, even through compensation, can signal confidence in the company's future.
• The acquisition of 96,559.647 phantom stock units, which are 100% vested immediately, adds significant value to the director's holdings.

Risks

• The value of the acquired common stock and phantom stock units is subject to market fluctuations of ASB's stock price.
• The Restricted Stock Units (RSUs) are subject to a one-year vesting period, meaning the director does not fully own them until February 1, 2027.

Future Outlook

The Restricted Stock Units will become fully vested on February 1, 2027. The phantom stock units will remain in the Director's Deferred Compensation Plan until distributed according to the director's elections.

Management Comments

• Restricted Stock Units will become fully vested on the first anniversary of the February 1, 2026 grant.
• Stock units are 100% vested at the time of the acquisition.
• Phantom stock units will remain in the Director's Deferred Compensation Plan until such account balance is distributed pursuant to Insider's distribution elections(s) on file.

Industry Context

StockSavvy.ai notes that director compensation often includes equity components like RSUs and phantom stock, aligning management's interests with shareholder value. This is a standard practice in the financial services industry to incentivize long-term performance and retention.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) with a vesting period is a common compensation practice across publicly traded companies, including financial institutions like JPMorgan Chase or Bank of America, to encourage long-term commitment and performance.
• Phantom stock units, which track the value of actual shares but do not confer ownership rights, are also a standard component of executive and director compensation plans, particularly in deferred compensation schemes, similar to those seen at regional banks such as Zions Bancorporation or Comerica.
• The specific grant size for a director would typically be benchmarked against peer group compensation data, though this filing does not provide such comparative details.

Stakeholder Impact

• Shareholders: The director's increased stake aligns their interests more closely with shareholders, potentially fostering better long-term decision-making.

Next Steps

• The 4,585 Restricted Stock Units will vest on February 1, 2027.
• The 96,559.647 phantom stock units will be distributed from the Director's Deferred Compensation Plan according to the director's prior elections.

Key Dates

Recommendation

While the director's acquisition of shares and phantom units is a positive signal of confidence, it primarily represents compensation rather than an open-market purchase. This type of transaction is generally expected and does not typically warrant a change in investment recommendation on its own. Investors should consider this as a minor positive data point within a broader analysis of ASB's financial performance and strategic outlook.

Keywords

Associated Banc-Corp, ASB, Form 4, Insider Transaction, Director Stock Acquisition, Restricted Stock Units, Phantom Stock, Robert A. Jeffe, Beneficial Ownership, Corporate Governance