Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 46

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 46
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 for the fraction of a share, an amount in cash (rounded down to the nearest cent), without interest, equal to such fractional part of a share of
Associated common stock determined by multiplying (i) the average of the Associated share closing prices on the NYSE as reported by The Wall Street Journalfor the five consecutive full trading days ending on the trading day
immediately preceding the closing date by (ii) the fraction of a share (after taking into account all shares of American National common stock held by such holder immediately prior to the effective time and rounded to the nearest
thousandth when expressed in decimal form) of Associated common stock which such holder would otherwise be entitled to receive pursuant to the Merger Agreement.

All of the shares of American National common stock converted into the right to receive the Merger Consideration will no longer be outstanding
and will automatically be cancelled and will cease to exist as of the effective time, and each old certificate (which includes reference to book-entry account statements relating to the ownership of shares of American National common stock)
previously representing any such shares of American National common stock will thereafter represent only the right to receive (i) the Merger Consideration, (ii) cash in lieu of fractional shares, which the shares of American National
common stock represented by such old certificate would have otherwise been converted into the right to receive pursuant to the terms of the Merger Agreement, and (iii) any dividends or distributions which the holder thereof has the right to
receive pursuant to the terms of the Merger Agreement, in each case without any interest thereon. Old certificates previously representing shares of American National common stock will be exchanged for the Merger Consideration and the other amounts
specified in the immediately preceding sentence, including evidence of shares in book-entry form representing whole shares of Associated common stock (together with any dividends or distributions with respect thereto and cash in lieu of fractional
shares issued in consideration therefor) upon the surrender of such old certificates pursuant to the terms of the Merger Agreement, without any interest thereon.

If, prior to the effective time, the outstanding shares of Associated common stock or American National common stock have been increased,
decreased, changed into or exchanged for a different number or kind of shares or securities, in any such case as a result of a reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, or other similar
change in capitalization, or there is any extraordinary dividend or extraordinary distribution (for the avoidance of doubt