Form 4: Director R. Jay Gerken Boosts ASB Holdings

Associated Banc-Corp Director R. Jay Gerken acquired additional common stock and phantom stock units through dividend equivalents and vested awards.

Summary

• R. Jay Gerken, a Director at Associated Banc-Corp (ASB), reported transactions on December 15, 2025.
• Acquired 45 shares of Common Stock ($0.01 Par Value) at a price of $26.94 per share, representing dividend equivalent units.
• Acquired an additional 307 shares of Common Stock ($0.01 Par Value) at $26.94 per share, representing fully vested dividend equivalents.
• Following these transactions, R. Jay Gerken beneficially owns 45,372 shares of Common Stock directly.
• Also reported 41,499 phantom stock units, which are 100% vested and will be distributed upon separation from service as a director.

Sentiment

Score: 6

Explanation: Slightly positive, as a director's increased holdings, even through compensation, can be viewed as a sign of continued alignment with shareholder interests, though it's not an open market purchase.

Positives

• A director increasing their beneficial ownership, even through compensation, can signal confidence in the company's long-term prospects.
• The acquisition of shares through dividend equivalents indicates a reinvestment of earnings back into the company's equity.

Future Outlook

The phantom stock units will remain in the Insider's Stock Plan Services plan until separation and will be distributed pursuant to the Insider's distribution election on file.

Industry Context

This Form 4 filing details a routine insider transaction related to compensation, which is common across all publicly traded companies, including those in the financial services sector like Associated Banc-Corp. It does not reflect broader industry trends but rather an individual director's equity holdings.

Stakeholder Impact

• Shareholders may view the director's increased beneficial ownership as a positive signal of management's commitment and alignment with long-term company performance.

Next Steps

• Phantom stock units will be distributed to R. Jay Gerken upon his separation from service as a director, according to his distribution election.

Key Dates

Recommendation

This Form 4 filing reports routine acquisitions of shares and phantom stock units through compensation plans, rather than open market purchases or sales. While a director increasing holdings is generally positive, these transactions do not provide new fundamental information about the company's operational or financial performance that would warrant a change in investment recommendation. It's a standard disclosure of insider ownership changes.

Keywords

ASB, Associated Banc-Corp, Form 4, Insider Transaction, Director, Common Stock, Phantom Stock Unit, Dividend Equivalents