Form 4: CEO Harmening Boosts ASB Stake via Dividend Reinvestment

Associated Banc-Corp's President & CEO, Andrew J. Harmening, acquired additional common stock through a routine dividend reinvestment plan.

Summary

• Andrew J. Harmening, President & CEO of Associated Banc-Corp, acquired 2,144.512 shares of common stock.
• The acquisition occurred on September 15, 2025, at a price of $26.2267 per share.
• The shares were acquired under a dividend reinvestment plan (DRIP), which is exempt from Section 16 reporting under Rule 16a-11.
• Following this transaction, Harmening beneficially owns a total of 323,837.308 shares of Associated Banc-Corp common stock.

Sentiment

Score: 7

Explanation: The acquisition of additional shares by the President & CEO, even through a routine dividend reinvestment plan, generally signals continued confidence in the company's long-term prospects and aligns management's interests with shareholders.

Positives

• Management's continued participation in the company's dividend reinvestment plan demonstrates ongoing commitment and confidence in the company's performance.
• The increase in beneficial ownership by a key executive aligns management's interests with those of shareholders.

Future Outlook

NA

Industry Context

This routine insider transaction, involving a dividend reinvestment plan, is common practice across various industries, particularly in mature sectors like banking where dividends are a key component of shareholder returns. It reflects a standard mechanism for executives to incrementally increase their holdings.

Stakeholder Impact

• Shareholders: May view the CEO's increased stake as a positive signal of confidence in the company's future performance and dividend policy.

Key Dates

Recommendation

The filing reports a routine acquisition of shares by the CEO through a dividend reinvestment plan. While it indicates continued confidence, it does not present new information significant enough to alter the fundamental investment thesis or warrant a change in recommendation from a 'hold' position.

Keywords

ASB, Associated Banc-Corp, Andrew J. Harmening, Form 4, Insider Transaction, Stock Acquisition, Dividend Reinvestment Plan, CEO, Director