Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 110

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 110
---
 Section 7, if the Grantee incurs a Termination of Service prior to

the date such Dividend Equivalent Units accrue, the Grantee’s right to such Dividend Equivalent Units shall be immediately

forfeited.

(b) Crediting of Dividend Equivalent Units . In the case of a Grantee to whom an Award of Dividend Equivalent

Units is granted in conjunction with an Award of Restricted Stock Units, except as otherwise provided in an Award Agreement,

whenever dividends are paid or distributions made with respect to Shares, Dividend Equivalent Units shall be credited to such

Grantee on all Restricted Stock Units credited thereto as of the record date for such dividend or distribution. Such Dividend

Equivalent Units shall be credited to the Grantee and paid in cash upon the settlement of the Restricted Stock Unit. However, if

the Grantee defers the issuance of Shares with respect to a Restricted Stock Unit Award, the Dividend Equivalent Units shall be

credited in the form of additional Shares. The number of Shares shall be calculated by dividing the aggregate value of such

Dividend Equivalent Units by the Fair Market Value of a Share as of the initial Settlement Date described in Section 7.4(b)

below, and shall be rounded down to the nearest whole number of Shares. Such Shares shall be paid pursuant to the deferral of

the Shares as described in Section 14.7.

7.4. Settlement of RSUs . The Company shall settle Restricted Stock Unit Awards by delivering to the holder thereof

(which may be the Grantee or the Grantee’s Beneficiary, as applicable) a number of Shares equal to the whole number of

Shares underlying such Award of Restricted Stock Units (or a specified portion in the event of any partial settlement); provided

however , that, if explicitly provided in the applicable Award Agreement, the Committee may, in its sole discretion, elect to pay

cash or part cash and part Shares in lieu of delivering only Shares for vested Restricted Stock Units. If a cash payment is made

in lieu of delivering Shares, the amount of such payment shall be equal to the Fair Market Value of the Shares as of the date on

which the Restricted Stock Units becomes vested, or on such other date determined by the Committee, in its discretion, and set

forth in the Award Agreement, with respect to each vested Restricted Stock Unit.

(a) Fractional Shares . If the Restricted Stock Units are settled in Shares , any fractional Shares underlying the

Restricted Stock Units subject to an Award and remaining on the