Form 4: Associated Banc-Corp Executive Increases Stake Through Stock Plan and Dividend Equivalents

John A. Utz, Executive Vice President of Associated Banc-Corp, reported an increase in his beneficial ownership of common stock through an employee stock purchase plan and dividend equivalents.

Summary

• John A. Utz, Executive Vice President of Associated Banc-Corp (ASB), filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
• On June 16, 2025, Mr. Utz acquired 58.3376 shares of common stock at a price of $23.099 per share through the Issuer's Employee Stock Purchase Plan.
• On the same date, he also acquired 511 shares of common stock at a price of $22.96 per share, which were fully vested dividend equivalents awarded pursuant to performance-based Restricted Stock Units (RSUs). These shares are payable solely in common stock and subject to deferral until separation, as elected by the insider.
• Following these transactions, Mr. Utz directly beneficially owns 116,121.2876 shares of common stock.
• Additionally, Mr. Utz indirectly owns 15,236.6 shares of common stock through a 401(k) Plan.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive due to the executive's acquisition of additional shares, which generally signals confidence in the company. However, as a factual transaction report rather than a performance update, the overall positive impact is limited.

Positives

• The acquisition of shares by an executive, John A. Utz, can signal confidence in the company's future prospects.
• Participation in the Employee Stock Purchase Plan (ESPP) indicates alignment of executive interests with shareholder interests.
• The receipt of fully vested dividend equivalents from performance-based RSUs suggests the achievement of prior performance targets by the executive.

Future Outlook

This Form 4 filing is a factual report of past insider transactions and does not contain forward-looking statements or guidance regarding Associated Banc-Corp's future financial performance or strategic outlook.

Industry Context

Insider transactions, such as those reported in this Form 4, are a standard component of executive compensation and personal investment activities across publicly traded companies, including those in the financial services industry. While individual transactions may not indicate broader industry trends, a consistent pattern of insider buying or selling across multiple companies could signal shifts in industry sentiment or outlook.

Comparison to Industry Standards

• The transactions reported, specifically acquisitions through an Employee Stock Purchase Plan and dividend equivalents from performance-based RSUs, are common forms of executive compensation and share ownership mechanisms widely adopted by companies across various industries, including financial services.
• The specific amounts and prices are unique to Associated Banc-Corp and John A. Utz's compensation structure and investment decisions, and are not directly comparable to specific projects or results of other financial institutions without further context on their respective compensation plans and stock performance.

Stakeholder Impact

• Shareholders: The acquisition of shares by an executive can be viewed positively by shareholders as a sign of management's confidence in the company's future, potentially influencing investor sentiment.
• Employees: The transaction through the Employee Stock Purchase Plan highlights the availability and utilization of employee stock ownership programs within the company.

Key Dates

Keywords

Associated Banc-Corp, ASB, Form 4, Insider Trading, Stock Acquisition, Employee Stock Purchase Plan, Dividend Equivalents, Executive Compensation, John A. Utz