Company: ASB
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000007789-25-000179
Chunk: 193

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 193
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 Board of Directors, with vesting ranging from a minimum of 0% to a maximum of 150% of the target award. Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date.The following table summarizes information about the Corporation’s restricted stock awards activity for the nine months ended September 30, 2025:Restricted StockShares(a)Weighted AverageGrant Date Fair ValueOutstanding at December 31, 20242,310 $21.25 Granted877 24.30 Vested721 22.18 Forfeited36 22.98 Outstanding at September 30, 20252,429 $22.05 (a) In thousandsThe Corporation amortizes the expense related to restricted stock awards as compensation expense over the vesting period specified in the grant's award agreement. Performance-based restricted stock awards granted during 2024 and 2025 will cliff-vest after the three year performance period has ended. Service-based restricted stock awards granted during 2024 and 2025 will generally vest ratably over a period of four years. Expense for restricted stock awards of $15.0 million and $15.8 million was recorded for the nine months ended September 30, 2025 and September 30, 2024, respectively. Included in compensation expense for the accelerated vesting of restricted stock awards granted to retirement eligible colleagues was $4.5 million and $3.6 million of expense the first nine months of 2025 and 2024, respectively. The Corporation had $21.8 million of unrecognized compensation costs related to restricted stock awards at September 30, 2025 that are expected to be recognized over the remaining requisite service periods that extend through the first quarter of 2029.The Corporation has the ability to issue shares from treasury or new shares upon the exercise of stock options or the granting of restricted stock awards. The Board of Directors has authorized management to repurchase shares of the Corporation’s common stock, to be made available for issuance in connection with the Corporation’s employee incentive plans and for other corporate purposes. The repurchase of shares, if any, will be based on market and investment opportunities, capital levels, growth prospects, and regulatory constraints. Such repurchases may occur from time to time in open market purchases, block transactions, private transactions, accelerated share repurchase programs, or similar facilities.

15

Note 5 Investment Securities 

Investment securities are designated as AFS,