Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 55

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 55
---
). The ROCET1 Target achievement result is a calculated

average (Y1 + Y2 +Y3)/3.

2022-2024 LTIPP

Grants under the 2022-2024 LTIPP were based on a three-year performance period that began on January 1, 2022, and ended on

December 31, 2024, with the vesting opportunities ranging from a minimum of 0% to a maximum of 150% of the target award.

The two equally weighted performance metrics outlined below were established by the Committee with target performance

goals set at the 50 th percentile relative to the KRXTR. In the event performance results fell below the 30 th percentile of peers, no

payout would occur.

• Relative Total Shareholder Return (TSR) (50% weight) is measured against the KRXTR. Relative TSR which

includes the net change in stock price plus dividends paid during the applicable period is calculated using a 30-day

share price average of the last 30 days of 2021 versus the last 30 days of 2024. If absolute TSR is negative, the payout

will be limited to 100% of target.

• Relative Return on Average Tangible Common Equity (ROATCE) (50% weight) is measured against the KRXTR

over the full three-year performance period. Relative ROATCE is computed by determining a 3-year average (Y1 +Y2

+ Y3)/3 of Associated's ROATCE as compared to the KRXTR.

47

2022 - 2024 LTIPP Achievement Results The balance sheet repositioning transactions that occurred in 2023 and 2024 were nonrecurring transactions designed to further drive improved profitability and accelerate our organic growth strategy.

| Description                        | Overview                                                                                                                                                                                                                                                                                                                                          | Relative ROATCEAfter-Tax Adjustment |
| 2024 Q4 BalanceSheet Repositioning | Non-recurring balance sheet repositioning to further accelerate theCompany's organic growth strategy.Note: The adjustment included Mortgage Fee Income, Investment Security Sales Loss,Reinvestment of Security Sales Proceeds, Net Provision Impact, Credit Card Interest Income,FHLB Prepayment Penalty, benefit of FHLB refinancing and Taxes. | $253 million(netloss)               |
| 2023 Q4 BalanceSheet Repositioning | One-time loss associated with the strategic balance sheetrepositioning to change the operating model of prior leadership,including the sale of $1 billion in