Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 32

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 32
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 this information statement/prospectus.

22

THE MERGER This section of the information statement/prospectus describes material aspects of the Merger. This summary may not contain all of the information that is important to you. You should carefully read this entire information statement/prospectus and the other documents referred to you for a more complete understanding of the Merger. In addition, important business and financial information about Associated is incorporated into this information statement/prospectus by reference. You may obtain the information incorporated by reference into this information statement/prospectus without charge by following the instructions in the section entitled “Where You Can Find More Information.” Terms of the Merger Each of Associated’s and American National’s respective boards of directors has unanimously approved the Merger Agreement. Subject to the terms and conditions of the Merger Agreement, at the completion of the Merger, American National will merge with and into Associated, with Associated as the surviving corporation. Immediately following the completion of the Merger or at such later time as Associated may determine in its sole discretion, American National Bank will merge with and into Associated Bank, with Associated Bank as the surviving bank. Under the terms and subject to the conditions set forth in the Merger Agreement, each share of American National common stock issued and outstanding immediately prior to the effective time of the Merger (excluding certain shares excepted under the Merger Agreement) will be converted into the right to receive the Merger Consideration of 36.250 shares of Associated common stock. Associated will not issue any fractional shares of Associated common stock in the Merger. American National shareholders who would otherwise be entitled to a fraction of a share of Associated common stock in the Merger will instead receive, 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. See the section entitled “The Merger Agreement” for additional and more detailed information regarding the legal documents that govern the Merger, including information about the conditions