Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 46

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 46
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 ongoing dialogue via our shareholder outreach program so we can provide our shareholders with a forum to raise questions or voice any concerns.

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Shareholder Outreach Program We value shareholder input on our executive compensation program. Each fall, we reach out to the institutional investors who hold a significant percentage of our outstanding shares. During these sessions, we discuss Company results and performance relative to industry trends; peer metrics; compensation plans; talent acquisition and development programs; sustainability initiatives; and the Company’s strategic direction. It's our belief that we conform to best practices by maintaining an open and transparent relationship with our shareholders and listening to their feedback and concerns. The feedback we received from shareholders in 2024 was positive, and no concerns were raised. Overall, the shareholders that accepted our invitation approved of our current executive compensation program and appreciated the opportunity to ask questions. Below is a summary of our recent shareholder engagements and an overview of our engagement process.

| Term      | Number of InvestorsInvited | Percent OutstandingShares | Invitations Accepted |
| Fall 2022 |                         30 | 63%                       |                    2 |
| Fall 2023 |                         30 | 65%                       |                    2 |
| Fall 2024 |                         30 | 68%                       |                    3 |

Overview of Shareholder Engagement Process

| OVERVIEW OF EXECUTIVE COMPENSATION PRINCIPLES |

Philosophy and Objectives Associated’s executive compensation program is designed to provide each ELT member with a competitive total compensation package aligned with several objectives, including: • Linking a significant portion of total compensation to Associated's financial performance metrics, which we believe serves to create long-term shareholder value; • Providing a balanced program that rewards the desired actions and behaviors in support of Associated’s mission, business strategies and performance-based culture, without incentivizing unnecessary and/or excessive risk-taking; • Targeting compensation at market-competitive median levels, while maintaining an overall compensation program that is aligned with and reflects the performance of Associated; • Providing a mix of short- and long-term variable compensation that is market competitive; and • Attracting and retaining high-caliber executives whose judgment and leadership abilities result in overall success for Associated and increased value to our shareholders. The Committee used these objectives to drive the design of the 2024 executive compensation program by targeting total compensation for the NEOs and ELT members at approximate median levels for executives with similar responsibilities at financial institutions of comparable asset size. In addition to compensation levels, the Committee considers Associated’s financial performance relative to its