Form 4: Associated Banc-Corp Executive Exercises Stock Options and Sells Shares for Tax Obligations
SEC Form 4 Filing
Randall J. Erickson, an Executive Vice President at Associated Banc-Corp, exercised stock options and sold shares to cover tax withholding obligations on November 6, 2024.
Summary
- On November 6, 2024, Randall J. Erickson, an Executive Vice President of Associated Banc-Corp, exercised non-qualified stock options to acquire 41,276 shares of common stock at a price of $17.38 per share.
- Simultaneously, Erickson disposed of 32,912 shares to satisfy tax withholding obligations at a price of $28.14 per share.
- Following these transactions, Erickson directly owns 107,728 shares of Associated Banc-Corp common stock.
- The exercised stock options were granted previously and vest in four equal annual installments beginning on February 8, 2017.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock option exercises and share sales by an executive. It doesn't inherently convey positive or negative sentiment, as it reflects routine transactions.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that an executive is exercising previously granted stock options and selling a portion of the acquired shares to cover tax obligations, which is a common practice.
Comparison to Industry Standards
- Executive compensation packages often include stock options to align management's interests with those of shareholders.
- The vesting schedule of these options is typical, with annual installments over a period of years.
- Selling shares to cover tax obligations arising from option exercises is a standard practice among executives at publicly traded companies.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it involves the exercise of previously granted stock options and a sale of shares to cover tax obligations.
- The filing provides transparency to stakeholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/08/2017 | Start date for the four equal annual installments of the vesting of the options. |
| 11/06/2024 | Date of the stock option exercise and share sale. |
| 11/08/2024 | Date of signature on the Form 4 filing. |
| 02/01/2026 | Expiration date of the non-qualified stock option. |
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