Form 4: Director Greffin Boosts ASB Stake with Stock Acquisitions

Associated Banc-Corp Director Judith P. Greffin increased her direct beneficial ownership of company common stock and phantom stock units.

Summary

• Judith P. Greffin, a Director at Associated Banc-Corp (ASB), acquired additional shares of common stock and phantom stock units.
• On December 15, 2025, Greffin acquired 45 shares of Common Stock with a $0.01 par value at a price of $26.94 per share.
• Following this transaction, her beneficial ownership of non-derivative common stock increased to 17,898 shares.
• On the same date, she acquired an additional 111 shares of Common Stock at $26.94 per share, bringing her total beneficial ownership to 18,009 shares.
• These acquisitions include dividend equivalent units that vest on the first anniversary of the related restricted stock units and fully vested dividend equivalents on restricted stock units, both payable in common stock.
• Greffin also holds 41,499.003 phantom stock units, which were 100% vested at the time of acquisition and will be distributed upon her separation from service as a director.

Sentiment

Score: 7

Explanation: The sentiment is positive due to a director increasing their beneficial ownership, signaling confidence in the company's future. This is a standard insider buying report, which is generally well-received by the market.

Positives

• Increased insider ownership by a director signals confidence in the company's future prospects.
• The acquisitions include dividend equivalent units, indicating ongoing benefits from existing equity awards.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive indicator of management's belief in the company's value and future prospects, potentially boosting investor confidence.

Next Steps

• Dividend equivalent units will vest on the first anniversary of the grant of related restricted stock units.
• Phantom stock units will remain in the Insider's Stock Plan Services plan until separation and be distributed pursuant to the Insider's distribution election on file.

Key Dates

Recommendation

The director's decision to increase her stake in Associated Banc-Corp, particularly through direct stock acquisitions, suggests a strong belief in the company's intrinsic value and future growth trajectory. While a single Form 4 filing doesn't constitute a definitive 'strong buy' signal, it is a clear vote of confidence from an insider, which often precedes positive performance. This action, combined with the ongoing vesting of equity awards, indicates alignment of interests between management and shareholders, making it a favorable signal for potential investors.

Keywords

Associated Banc-Corp, ASB, Insider Trading, Form 4, Stock Acquisition, Director Ownership, Phantom Stock Units, Common Stock