JEFFE ROBERT A 4

What Happened
Robert A. Jeffe, a director of Associated Banc-Corp (ASB), was granted 952.419 phantom stock units on April 16, 2026. The award was recorded at $27.56 per unit for a total value of $26,249. This was a derivative award (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-16; Form filed: 2026-04-17 (appears timely).
• Units granted: 952.419 phantom stock units; per-unit value: $27.56; total value: $26,249.
• Vested status: 100% vested at grant (Footnote F2).
• Treatment: Phantom stock units will remain in the director’s Deferred Compensation Plan until distributed per the insider’s distribution elections (Footnotes F1, F3).
• Post-transaction ownership: Not specified in the provided filing.
• Transaction type: Derivative award (not a cash purchase or sale).

Context
Phantom stock units are a form of deferred compensation that tracks the value of company stock but do not represent immediate share ownership. Because this is an award tied to compensation and will remain in the deferred-compensation plan until distribution, it should not be interpreted as a regular open-market buy or sell signal.