Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 26

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 26
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 to performance criteria do not vest for a minimum of one year from the date of grant, and time-based awards vest no sooner than three years from the date of grant. However, awards covering up to 5% of the available shares under the 2025 Plan may be exempted from the one-year and three-year minimum vesting requirements, as determined by the Company, whether at the time an award is made or at a later date.

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• Double-trigger vesting upon Change in Control. The 2025 Plan requires “double trigger” change in control vesting for

incentive compensation awards (i.e., a termination of employment must occur within a limited time period following a

change in control for outstanding incentive awards to vest).

• Clawback policy . Certain awards, including awards subject to time-based vesting, granted to an executive officer under

the 2025 Plan will be subject to Associated’s Clawback Policy and will become subject to any future regulations or

stock exchange listing rules that are applicable to Associated. Under Associated’s Clawback Policy, Associated

requires any executive officer of Associated to repay or return erroneously awarded compensation in the event that

Associated issues an accounting restatement. Consistent with the 2025 Plan, the Clawback Policy is applicable to any

awards issued (including time-based awards) and compensation paid by Associated at any time to any individual

granted an award under the 2025 Plan.

**Eligibility**

Non-employee directors and executive officers, employees, consultants of Associated or a subsidiary of Associated are eligible

to participate in the 2025 Plan. As of December 31, 2024, Associated had 4,012 full-time equivalent employees and 12 non-

employee directors. We do not currently anticipate that any of Associated’s consultants will participate in the 2025 Plan.

**Shares Authorized for Issuance**

Associated currently grants equity incentive awards under the 2020 Plan. The 2025 Plan will replace the 2020 Plan, and no

further awards will be made under the 2020 Plan pending shareholder approval of the 2025 Plan. Outstanding awards granted

under the 2020 Plan will continue in effect according to their terms.

The aggregate number of shares of Common Stock that may be issued pursuant to the 2025 Plan, subject to adjustment as

described below, will be equal to (i) 1,672,000 shares of Common Stock, plus (ii) the total number shares of Common