Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 19

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 19
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 United States (“GAAP”). The Rights of American National Shareholders Will Change as a Result of the Merger The rights of American National shareholders are governed by Nebraska law and by the American National articles and the American National bylaws. In the Merger, American National shareholders will become holders of Associated common stock, and their rights will be governed by Wisconsin law and the Associated articles and the Associated bylaws. American National shareholders will have different rights once they become Associated shareholders due to differences between the American National governing documents, on the one hand, and the

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Associated governing documents, on the other hand. These differences are described in more detail under the section entitled “Comparison of Shareholders’ Rights.”

Listing of Associated Common Stock

The shares of Associated common stock are listed for trading on the NYSE. Following the Merger, shares of Associated common stock will continue
to be listed on the NYSE.

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RISK FACTORS

An investment by American National shareholders in Associated common stock as a result of the exchange of shares of American National common stock for shares of Associated common stock in the Merger involves certain risks. Certain material risks and uncertainties connected with the Merger Agreement and transactions contemplated thereby, including the Merger and Bank Merger and ownership of Associated common stock, are discussed below. In addition, Associated discusses certain other material risks connected with the ownership of Associated common stock and with Associated’s business under the caption entitled “Risk Factors” appearing in its Annual Report on Form 10-Kmost recently filed with the SEC and may include additional or updated disclosures of such material risks in its subsequent Quarterly Reports on Form 10-Qand Current Reports on Form 8-Kthat Associated has filed with the SEC or may file with the SEC after the date of this information statement/prospectus, each of which reports is or will be incorporated by reference in this information statement/prospectus.

American National shareholders should carefully read and consider all of these risks and all other information contained in this information statement/prospectus, including the discussions of risk factors included in the documents incorporated by reference in this information statement/prospectus. The risks described in this information statement/prospectus and in those documents incorporated by reference may adversely affect the value of Associated common stock that you, as an existing American National shareholder, will hold upon consummation of the Merger, and could result in a significant decline in the value of Associated common stock and cause the American National shareholders to lose all or part of the value of the Associated common stock they will receive in the Mer