Associated Banc-Corp (ASB) EVP John Utz Exercises Options, Sells Shares

What Happened
John A. Utz, Executive Vice President of Associated Banc‑Corp (ASB), exercised 24,465 stock options on 2026-08-04 at $25.20 per share (cost = $616,518) and sold 44,465 shares in an open‑market transaction the same day for a weighted average price of $31.73, generating proceeds of about $1,410,652. The Form 4 also shows a derivative conversion/disposition entry for 24,465 shares at $0.00 related to the option exercise.

Key Details

• Transaction date: 2026-08-04; Form 4 filed 2026-08-05 (appears timely).
• Exercise (code M): 24,465 shares at $25.20 = $616,518 (cash paid to exercise).
• Sale (code S): 44,465 shares at weighted avg $31.73 ≈ $1,410,652; sale prices ranged $31.685–$31.905 (F1).
• Derivative reporting: 24,465-share conversion/disposition shown at $0.00 (reflects option-to-share conversion).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 explains the weighted average sale price and provides price range; F2 notes the option vests in four equal annual installments beginning Feb 8, 2018.

Context

• This sequence (exercise + same‑day sale) is consistent with a cashless or simultaneous exercise/sale where exercised shares and/or previously held shares are sold to cover costs and/or take proceeds. The sale volume (44,465) exceeds the exercised shares (24,465), indicating additional previously owned shares were also sold.
• Transaction codes: M = option exercise/conversion; S = sale. This is a routine insider sale and not, by itself, an indicator of company performance.