Company: ASB
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000007789-25-000013
Chunk: 67

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-02-12
Form: 10-K
Item: Item 8
Chunk 67
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 21 for a summary of the components of accumulated other comprehensive income (loss).

Note 10 Stock-Based Compensation 

Stock-Based Compensation PlanIn February 2020, the Board of Directors, with subsequent approval of the Corporation’s shareholders, approved the adoption of the 2020 Incentive Compensation Plan. As of December 31, 2024, approximately 5.2 million shares remained available for grant under the 2020 Plan.The Corporation also issues restricted stock awards under the 2020 Plan. The shares of restricted stock are restricted as to transfer, but are not restricted as to dividend payment or voting rights. Restricted stock units receive dividend equivalents but do not have voting rights. The transfer restrictions lapse over three years or four years, depending upon whether the awards are performance-based or service-based. Performance-based awards are based on one or more performance measures as selected by the Compensation & Benefits Committee in its discretion, and service-based awards are contingent upon continued employment or meeting the requirements for retirement. Performance-based restricted stock awards granted during 2023 and 2024 will cliff-vest after the three year performance period has ended. Service-based restricted stock awards granted during 2023 and 2024 will generally vest ratably over a period of four years.The 2020 Plan provides that restricted stock awards and stock options will immediately become fully vested upon retirement from the Corporation of retirement eligible colleagues. See Note 1 for the Corporation’s accounting policy for stock-based compensation. Accounting for Stock-Based CompensationThe fair values of stock options and restricted stock awards are amortized as compensation expense on a straight-line basis over the vesting period of the grants. For colleagues who meet the definition of retirement eligible under the 2020 Plan, expenses related to restricted stock awards are fully recognized on the date the colleague meets the definition of normal or early retirement. Compensation expense recognized is included in personnel expense on the consolidated statements of income. A summary of the Corporation’s stock option activity for the year ended December 31, 2024 is presented below:Stock OptionsShares(a)Weighted AverageExercise PriceWeighted AverageRemainingContractual TermAggregateIntrinsic Value(a) Outstanding at December 31, 20233,792 $21.25 4.26 years$5,834 Exercised1,923 20.06 Forfeited or expired91 24.85 Outstanding at December 31, 20241,778 $22.36 3.41 years$3,693 Options