Erickson Randall J. 4

What Happened

• Randall J. Erickson, Executive Vice President of Associated Banc‑Corp (ASB), received an award of 16,368 shares on 2026-03-09 as vested performance shares (LTIP), valued at $25.08 each for a total of $410,509. At the same time, 5,238 shares were withheld to satisfy tax withholding obligations, valued at $25.08 each ($131,369). The grant is recorded as an acquisition (code A) and the withholding as a disposition for tax purposes (code F).

Key Details

• Transaction date: 2026-03-09; Form 4 filed: 2026-03-11.
• Award: 16,368 shares @ $25.08 = $410,509 (code A).
• Tax withholding: 5,238 shares withheld @ $25.08 = $131,369 (code F).
• Footnotes: F1 — these were vested Performance Shares from a 2023 LTIP subject to a 3‑year cliff vest in 2026. F2 — shares were withheld to satisfy tax withholding on the vesting.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: filing date (3/11) reports a 3/9 transaction; this appears to be within the typical two‑business‑day Form 4 window.

Context

• These were vested long‑term incentive (performance) shares that vested under a 3‑year cliff vesting schedule — a common form of executive compensation. The withholding of 5,238 shares to cover taxes is a routine administrative step and should not be interpreted as an open‑market sale indicating sentiment. Purchases (insider buys) are generally considered stronger signals of insider conviction than routine vesting events.