Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 29

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 29
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 price that is less than

100% of the fair market value of the Common Stock on the date of grant. Further, shareholders who own greater than 10% of

Associated’s voting stock will not be granted incentive stock options that have an exercise price less than 110% of the fair

market value of the Common Stock on the date of grant. Any options granted to non-employee directors or consultants of

Associated or its subsidiary will be non-qualified stock options.

The term of all stock options granted under the 2025 Plan will be determined by the Committee and will not exceed 10 years (or

five years for incentive stock options granted to shareholders who own greater than 10% of Associated’s voting stock). No

incentive stock option may be granted to an optionee, which, when combined with all other Associated incentive stock options

becoming exercisable in any calendar year that are held by that optionee, would have an aggregate fair market value in excess

of $100,000. In the event an optionee is awarded $100,000 in incentive stock options in any calendar year under the 2025 Plan

or any other equity incentive plan of Associated, any incentive stock options in excess of $100,000 granted during the same

year will be treated as non-qualified stock options.

The exercise price for stock options may be paid in cash or cash equivalent (including through a broker selling the shares

acquired on exercise), in shares of Common Stock, or by reducing the number of shares otherwise deliverable upon the exercise

of the option by the number of shares equal to the exercise price.

The 2025 Plan permits the repricing of stock options only with the approval of shareholders. For this purpose, “repricing”

means (except in the case of certain adjustments permitted by the 2025 Plan and described in the Adjustments section below):

(1) lowering of the exercise price of a stock option after it is granted; (2) canceling a stock option at a time when the exercise

price exceeds the fair market value of the underlying Common Stock in exchange for another award; and (3) any other action

that is treated as repricing under generally accepted accounting principles. The 2025 Plan provides that DEUs will not be

payable with respect to stock options.

Stock Appreciation Rights

SARs may be granted on a standalone basis or in tandem with stock options granted under the 2025 Plan. SARs are subject to

the terms and conditions