Form 4: ASB Executive Exercises Options, Sells Shares Under 10b5-1

Associated Banc-Corp Executive Vice President John A. Utz reported exercising stock options and selling company common stock, primarily under a Rule 10b5-1 plan.

Summary

• John A. Utz, Executive Vice President of Associated Banc-Corp (ASB), reported multiple transactions involving the company's common stock.
• On December 9, 2025, Utz exercised 135 non-qualified stock options at an exercise price of $17.38 per share.
• These options were set to expire on February 1, 2026, and had vested in four equal annual installments beginning on February 8, 2017.
• Concurrently, Utz sold a total of 2,135 shares of common stock in multiple transactions: 128 shares at $26.41, 1,872 shares at $26.411, and 135 shares at $26.45.
• All reported transactions were conducted pursuant to a Rule 10b5-1 pre-arranged trading plan.
• Following these transactions, Utz directly beneficially owns 109,841.6852 shares of common stock and indirectly owns 15,499.26 shares through a 401(k) Plan.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of insider transactions, specifically an option exercise and subsequent stock sales, conducted under a pre-arranged 10b5-1 plan. It does not contain information that would significantly alter the company's fundamental outlook or performance, thus warranting a neutral sentiment.

Positives

• The exercise of stock options indicates that the executive realized value from previously granted equity compensation.
• The transactions were conducted under a Rule 10b5-1 plan, suggesting a pre-planned and non-discretionary sale, which can mitigate concerns about opportunistic insider selling.

Negatives

• The net effect of the reported transactions is a reduction in direct beneficial ownership of common stock by the executive, which some investors might view as a lack of confidence, although it is often for personal financial planning.

Future Outlook

N/A. This Form 4 filing is a transactional disclosure and does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

N/A. This Form 4 filing is a transactional disclosure and does not provide information relevant to broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: Minor impact as it's a routine insider transaction, potentially signaling an executive monetizing vested equity for personal financial planning rather than a change in company fundamentals.

Key Dates

Keywords

Associated Banc-Corp, ASB, John A. Utz, Form 4, insider trading, stock options, equity compensation, Rule 10b5-1, executive transactions, common stock