ASSOCIATED BANC-CORP
For the period ended Apr 30, 2024. Filed Mar 18, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Apr 30, 2024 · Filed Mar 18, 2024
Contents
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. Also, the Committee has 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 which promotes retention. To achieve these goals, the Committee developed Associated’s long-term incentive plan 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”). Individual target grant amounts, as a percent of base salary, are listed in the table below.
| Long-Term Incentive Target as a Percent of Base Salary | |||
|---|---|---|---|
| Named Executive Officer | PRSUs | RSUs | Total Long-Term Incentive |
| Andrew J. Harmening | 187.5% | 62.5% | 250% |
| Derek S. Meyer | 82.5% | 27.5% | 110% |
| John A. Utz | 82.5% | 27.5% | 110% |
| Randall J. Erickson | 75.0% | 25.0% | 100% |
| David L. Stein | 82.5% | 27.5% | 110% |
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