Form 4: Associated Banc-Corp Director Increases Stake Through Dividend Equivalent Units

R. Jay Gerken, a Director at Associated Banc-Corp (ASB), has increased his beneficial ownership of common stock through the acquisition of dividend equivalent units.

Summary

• R. Jay Gerken, a Director of Associated Banc-Corp (ASB), acquired a total of 390 shares of common stock on June 16, 2025.
• The acquisitions consisted of two separate transactions: 50 shares and 340 shares, both at a price of $22.96 per share.
• These shares were acquired as dividend equivalent units, which are payable in common stock.
• The 50 shares relate to dividend equivalent units that vest on the first anniversary of the grant of related restricted stock units.
• The 340 shares represent fully vested dividend equivalents received on restricted stock units, payable after Mr. Gerken ceases serving as a director.
• Following these transactions, Mr. Gerken's direct beneficial ownership of Associated Banc-Corp common stock increased to 44,672 shares.

Sentiment

Score: 6

Explanation: Slightly positive. While the acquisition is compensation-related rather than an open-market purchase, it still increases insider ownership, which is generally viewed favorably as it aligns management's interests with shareholders. The transaction is routine for a Form 4.

Positives

• The increase in director R. Jay Gerken's beneficial ownership, even if compensation-related, aligns the director's interests more closely with shareholders.
• The acquisition of shares through dividend equivalent units indicates a structured compensation or benefit plan for directors.

Future Outlook

The document indicates that some dividend equivalent units will vest on the first anniversary of their related restricted stock unit grant, and others are payable upon the insider ceasing to serve as a director, suggesting future share distributions.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction within the financial services industry. Such transactions, particularly those involving compensation-related share grants like dividend equivalents, are common mechanisms for aligning executive and director interests with shareholder value in the banking sector.

Stakeholder Impact

• Shareholders: The increase in director ownership, even if compensation-based, can be seen as a positive signal of alignment between management and shareholder interests.

Next Steps

• Vesting of dividend equivalent units on the first anniversary of the grant of related restricted stock units.
• Payment of fully vested dividend equivalents in common stock following the date the insider ceases serving as a director.

Key Dates

Keywords

Associated Banc-Corp, ASB, R. Jay Gerken, Director, Insider Trading, Stock Acquisition, Form 4, SEC Filing, Common Stock, Dividend Equivalent Units, Beneficial Ownership