Company: ASB
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0000007789-25-000025
Chunk: 52

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 52
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 MIP Results (Actual and Adjusted)**

The below chart depicts 2024 MIP achievement using the adjusted results approved by the Committee. A "Reconciliation of

Non-GAAP Financial Measures" is provided in Appendix B .

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Approval of 2024 Short-Term Incentive Payout The Committee determined the amount of the MIP payout to each NEO by multiplying the respective incentive target by the Company's adjusted performance achievement of 103.3%. All ELT members were rewarded based on overall ASB results with no individual modifications made for individual NEO performance.

| 2024 Adjusted Incentive Payout as a Percent of NEO Target |                  |                 |                                           |
| Named Executive Officer                                   | Target Payout  $ | Actual Payout $ | AdjustedAchievement as aPercent of Target |
| Andrew J. Harmening                                       |       $1,605,000 |      $1,657,965 | 103.3%                                    |
| Derek S. Meyer                                            |         $440,000 |        $454,520 | 103.3%                                    |
| John A. Utz                                               |         $367,500 |        $379,628 | 103.3%                                    |
| Randall J. Erickson                                       |         $336,000 |        $347,088 | 103.3%                                    |
| David L. Stein                                            |         $326,250 |        $337,016 | 103.3%                                    |

| LONG-TERM INCENTIVE COMPENSATION |

The Committee believes that a sizable portion of executive total pay should be represented by, and tied directly to, the performance of the Company so that the interests of the ELT members and the shareholders are closely aligned. The Committee has also designed our long-term incentive plan so that the performance of Associated’s stock has a strong correlation to the actual total compensation an ELT member receives over time. To achieve these goals, the Committee developed Associated’s Long-Term Incentive Performance Plan ("LTIPP") to award equity that includes two key long-term elements: 1) 75% of the award is issued in the form of performance-based restricted stock units (“PRSUs”) and 2) 25% of the award is issued in the form of time-based restricted stock units (“RSUs”). The Committee believes the weighting between PRSUs and RSUs allows us to focus on performance results while managing retention. Individual target grant amounts are awarded annually, typically in January. Only infrequently