Form 4: Associated Banc-Corp Director Haddad Acquires Phantom Stock Units

Director Michael J. Haddad acquired phantom stock units in Associated Banc-Corp through the Directors' Deferred Compensation Plan.

Summary

• On October 17, 2024, Michael J. Haddad, a director of Associated Banc-Corp, acquired 866.45 phantom stock units under the Directors' Deferred Compensation Plan.
• The price of the derivative security was $0.
• These stock units are 100% vested at the time of acquisition and will remain in the Director's Deferred Compensation Plan until distribution.
• Following the transaction, Haddad directly owns 49,103.719 shares of Associated Banc-Corp common stock, with each share having a par value of $0.01.
• The reporting person has elected to have the phantom stock units distributed at a later date.

Sentiment

Score: 6

Explanation: The document is neutral in sentiment as it reports a standard transaction related to director compensation. It doesn't contain overtly positive or negative information.

Positives

• The acquisition of phantom stock units by a director could be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The 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

This filing is a routine disclosure related to insider transactions, which are common in the financial industry as part of executive compensation packages. It provides transparency to investors regarding the holdings of company insiders.

Comparison to Industry Standards

• Director compensation packages often include stock options, restricted stock units, or phantom stock units to align the interests of directors with those of shareholders.
• The vesting and distribution terms of these units are typically outlined in the company's compensation plan, which is a standard practice across the financial industry.
• Comparing the size and structure of Haddad's phantom stock unit acquisition to those of directors at comparable regional banks (e.g., Huntington Bancshares, Fifth Third Bancorp) would provide further context.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine part of director compensation.
• It provides transparency to shareholders regarding insider holdings.

Key Dates