Company: ASB
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000007789-25-000049
Chunk: 61

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 AverageExercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value(a)Outstanding at December 31, 20241,778 $22.36 3.41 years$3,693 Exercised50 17.93 Forfeited or expired— — Outstanding at March 31, 20251,728 $22.49 3.17 years$2,359 Options Exercisable at March 31, 20251,728 $22.49 3.17 years$2,359 (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 three months ended March 31, 2025, the intrinsic value of stock options exercised was $346,000, compared to approximately $722,000 for the three months ended March 31, 2024. All stock options were vested as of 

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December 31, 2024. The total fair value of stock options vested was approximately $489,000 for the three months ended March 31, 2024.The Corporation has issued time-based and performance-based restricted stock awards under the 2020 Incentive Compensation Plan. Performance awards are based on performance goals determined by the Compensation and Benefits Committee of the Corporation's Board of Directors, with vesting ranging from a minimum of 0% to a maximum of 150% of the target award. Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date.The following table summarizes information about the Corporation’s restricted stock awards activity for the three months ended March 31, 2025:Restricted StockShares(a)Weighted AverageGrant Date Fair ValueOutstanding at December 31, 20242,310 $21.25 Granted838 24.59 Vested674 22.36 Forfeited2 21.12 Outstanding at March 31, 20252,471 $22.08 (a) In thousandsThe Corporation amortizes the expense related to restricted stock awards as compensation expense over the vesting period specified in the grant's award agreement. Performance-based restricted stock awards granted during 2024 and 2025 will cliff-vest after the three year performance period has ended. Service-based restricted stock awards granted during 2024 and 2025 will generally vest ratably over a period of four