Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 68

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 68
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 exercisable at December 31, 20241,778 $22.36 3.41 years$3,693 (a) In thousandsIntrinsic value represents the amount by which the fair market value of the underlying stock exceeds the exercise price of the stock option. For the years ended December 31, 2024, 2023, and 2022, the intrinsic value of stock options exercised was $10 million, approximately $518,000, and $4 million, respectively. The total fair value of stock options that vested was approximately $489,000 for the year ended December 31, 2024, approximately $943,000 for the year ended December 31, 2023, and $2 million for the year ended December 31, 2022. The following table summarizes information about the Corporation’s restricted stock activity for the year ended December 31, 2024:Restricted StockShares(a)Weighted AverageGrant Date Fair ValueOutstanding at December 31, 20232,349 $21.20 Granted837 20.76 Vested790 23.64 Forfeited87 21.96 Outstanding at December 31, 20242,310 $21.25 (a) In thousands

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The Corporation amortizes the expense related to restricted stock awards as compensation expense over the vesting period specified in the grant's award agreement. Expense for restricted stock awards of $19 million was recorded for the year ended December 31, 2024, $17 million for the year ended December 31, 2023, and $16 million for the year ended December 31, 2022. Included in compensation expense for 2024 was $5 million of expense for the accelerated vesting of restricted stock awards granted to retirement eligible colleagues. The Corporation had $18 million of unrecognized compensation costs related to restricted stock awards at December 31, 2024 that are expected to be recognized over the remaining requisite service periods that extend predominantly through the first quarter of 2028. The Corporation has the ability to issue shares from treasury or new shares upon the exercise of stock options or the granting of restricted stock awards. As described in Note 9, the Board of Directors has authorized management to repurchase shares of the Corporation’s common stock in the market, to be made available for issuance in connection with the Corporation’s employee incentive plans and for other corporate purposes. The repurchase of shares, if any, will