Company: ASB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000007789-25-000116
Chunk: 196

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 196
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 respectively.

Note 4 Stock-Based Compensation 

The 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 Incentive Compensation Plan, expenses related to stock options and 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 six months ended June 30, 2025 is presented below:Stock OptionsShares(a)Weighted AverageExercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value(a)Outstanding at December 31, 20241,778 $22.36 3.41 years$3,693 Exercised51 17.92 Forfeited or expired— — Outstanding at June 30, 20251,727 $22.49 2.93 years$3,848 Options Exercisable at June 30, 20251,727 $22.49 2.93 years$3,848 (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 six months ended June 30, 2025, the intrinsic value of stock options exercised was $0.4 million, compared 

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to  $1.0 million for the six months ended June 30, 2024. All stock options were vested as of December 31, 2024. The total fair value of stock options vested was $0.5 million for the six months ended June 30, 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 six months ended June 30, 2025:Restricted StockShares(a)Weighted AverageGrant Date Fair ValueOutstanding at December 31, 202