Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 43

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 43
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-year performance period was impacted by both the 2023 and 2024 balance sheet

repositioning initiatives, the unadjusted LTIPP estimated achievement was 64.50%. After removing the financial impacts

of the 2023 and 2024 initiatives, the adjusted LTIPP performance achievement was calculated at 93.75%. In order to

preserve the intended retentive and motivational objectives of the LTIPP, the Committee approved the adjusted

performance achievement at 93.75% for payout purposes.

Shareholder Outreach

Each Fall we extend an invitation to our shareholders via our outreach program and meet with our compensation consultant to

solicit input about our pay programs. The feedback we received from the shareholders that accepted our invitation was positive.

No concerns were raised. Overall, they approved of our current executive compensation program.

**2024 Pay Program Refinements**

To align with our long-term strategic priorities, we revised the 2024-2026 LTIPP metrics for the 2024-2026 performance period

by shifting the return metric to Absolute Return on Common Equity Tier 1 (ROCET1) from ROATCE. ROCET1 is also a more

consistent metric and will provide greater stability over time. For this performance period, the metrics are:

• Relative Total Shareholder Return (TSR) Metric – No Change . (65% weight). Metric pays a maximum of 100% of target if

absolute TSR is negative, regardless of relative performance versus peers, at the end of the three-year performance period;

and

• Absolute Return on Common Equity Tier 1 (ROCET1) . (35% weight) ROCET1 was selected as the performance measure

since it considers both the return to shareholders and is a measure of bank soundness. It is also a highly regulated and

consistent metric that exhibits less volatility from economic conditions, therefore, is expected to provide more stability over

the long-term.

Proposal 2: Approval of the Associated Banc-Corp 2025 Equity Incentive Plan

We are requesting your approval of the proposed 2025 Equity Incentive Plan to replenish the pool of shares available for

awarding stock-based compensation to our executives, certain colleagues and non-employee directors. Long-term incentives are

a critical component of our pay-for-performance compensation philosophy to align sustained performance with shareholder

interests, provide rewards to support our strategic initiatives and continue to attract, retain and motivate highly skilled executive

officers and colleagues. Detailed information is available for your review