Form 4: Director Acquires ASB Shares Under 10b5-1 Plan

Associated Banc-Corp Director Rodney Jones-Tyson acquired 45 shares of common stock at $26.94 per share, increasing his beneficial ownership to 9,237 shares, as part of a pre-arranged 10b5-1 plan.

Summary

• Rodney Jones-Tyson, a Director of Associated Banc-Corp (ASB), acquired 45 shares of common stock.
• The transaction occurred on December 15, 2025, at a price of $26.94 per share.
• Following this acquisition, Jones-Tyson beneficially owns 9,237 shares of ASB common stock.
• The acquisition was for dividend equivalent units, which vest on the first anniversary of related restricted stock units and are payable solely in common stock upon vesting (subject to deferral if elected).
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading strategy.

Sentiment

Score: 6

Explanation: Slightly positive. While a small, compensation-related transaction, it represents an insider increasing their stake, which generally signals continued alignment of interests with shareholders.

Positives

• An insider (Director Rodney Jones-Tyson) increased his beneficial ownership in the company, which can signal confidence in the company's future.
• The transaction was part of a pre-arranged Rule 10b5-1(c) plan, demonstrating a structured and compliant approach to equity compensation or investment.

Future Outlook

The filing indicates future vesting of dividend equivalent units on the first anniversary of the grant of related restricted stock units, which will be payable solely in shares of common stock, suggesting ongoing equity participation for the director.

Industry Context

This insider transaction is a routine disclosure common across all industries for publicly traded companies. It reflects individual corporate governance and compensation practices rather than broader industry trends.

Comparison to Industry Standards

• Insider acquisitions, particularly those related to compensation like dividend equivalent units or restricted stock, are standard practice for director remuneration in publicly traded companies.
• The use of a Rule 10b5-1 plan for such transactions is a common and accepted compliance measure to mitigate concerns about insider trading.

Corporate Governance

Related Party Transactions

• Acquisition of 45 shares of common stock by Director Rodney Jones-Tyson, representing dividend equivalent units, which is a transaction between the company and a related party (an insider).

Stakeholder Impact

• Shareholders: The increase in director ownership, even if compensation-related, can be viewed as a positive signal of alignment between management and shareholder interests.
• Company: The transaction reflects the execution of an equity compensation plan and adherence to insider trading compliance through a 10b5-1 plan.

Next Steps

• Dividend equivalent units will vest on the first anniversary of the grant of the restricted stock units to which they relate.
• Vested units will be payable solely in shares of common stock upon vesting (subject to deferral if elected by the Insider).

Key Dates

Recommendation

This Form 4 reports a routine insider transaction, specifically the acquisition of dividend equivalent units as part of a compensation plan, executed under a 10b5-1 plan. While insider buying can be a positive signal, this particular transaction is small (45 shares) and compensation-related rather than a significant open-market purchase. It does not provide new fundamental information to warrant a change in investment thesis, thus a 'hold' recommendation is appropriate.

Keywords

Associated Banc-Corp, ASB, Rodney Jones-Tyson, Insider Transaction, Form 4, Director, Stock Acquisition, 10b5-1 Plan, Dividend Equivalent Units, Common Stock