Braeger Matthew R 4

What Happened

• Matthew R. Braeger, Executive Vice President of Associated Banc‑Corp (ASB), received 5,200 vested Performance Shares (LTIP) on 2026-03-09 at a reported value of $25.08 per share (total ~$130,416).
• To satisfy tax withholding on the vesting event, 2,444 shares were withheld (disposed) at the same per‑share value, representing ~$61,296 in tax withholding. Net shares retained by Braeger from this vesting = 2,756 shares (approx. $69,120 at $25.08).

Key Details

• Transaction dates: 2026-03-09 (Period of Report); Form filed 2026-03-11 (appears timely).
• Reported transactions/codes: A (Award/Grant) — 5,200 shares @ $25.08; F (payment of tax liability via share withholding) — 2,444 shares @ $25.08.
• Footnotes: F1 — these were Performance Shares granted under the 2023 LTIP with a 3‑year cliff vesting in 2026; F2 — shares were withheld to satisfy tax withholding obligations arising from the vesting.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.

Context

• This was a vesting of previously granted performance shares, not an open‑market purchase or a voluntary sale. Withholding shares to cover taxes is a routine settlement method (cashless withholding) and does not necessarily signal a change in the insider’s view of the company.
• For retail investors, vested awards increase an insider’s equity stake (net of withheld shares); they are different from purchases, which are often interpreted as a stronger bullish signal.