ASSOCIATED BANC-CORP
For the period ended Apr 28, 2026. Filed Mar 16, 2026.
View on SEC.govAbout this filing
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 28, 2026 · Filed Mar 16, 2026
Contents
LONG-TERM INCENTIVE COMPENSATION
The Committee believes a significant portion of executive total compensation should be performance‑based and aligned with
the long‑term interests of shareholders. Accordingly, the Committee designs the Company’s long‑term incentive program to
link executive compensation outcomes to sustained Company performance and shareholder value creation.
To support these objectives, the Committee administers the Long‑Term Incentive Performance Plan (“LTIPP”), under which
equity awards consist of both performance‑based restricted stock units (“PRSUs”) and time‑based restricted stock units
(“RSUs”) weighted at 75% and 25%, respectively. The Committee believes this structure appropriately balances performance
accountability with executive retention considerations. Individual LTIPP award opportunities are established annually and are
expressed as a percentage of base salary. Outstanding LTIPP awards are subject to the terms of the 2020 Incentive
Compensation Plan. LTIPP awards made after April 2025 will be subject to the terms of the 2025 Equity Incentive Plan.
Individual target grant amounts are awarded annually, typically in February. The Committee considers one-time awards only in
exceptional circumstances. No one-time awards were granted in 2025.
The value of the PRSUs and RSUs awarded to a NEO is determined by multiplying base salary by the LTIPP target percent
which is then allocated between PRSUs and RSUs accordingly. To determine the number of shares awarded, the dollar values
are divided by the closing market price of a share of Associated's Common Stock on the grant date. The LTIPP amounts
awarded to each NEO for the 2025-2027 performance period are listed in the table below.
| 2025 Long-Term (“LTI”) Award Opportunity | |||||
|---|---|---|---|---|---|
| Named Executive Officer | Base Salary | LTIPP Target | Total LTI Opportunity | 75% PRSUs (at Target) | 25% RSUs (at Target) |
| Andrew J. Harmening | $1,120,000 | 250% | $2,800,000 | $2,100,000 | $700,000 |
| Derek S. Meyer | $600,000 | 110% | $660,000 | $495,000 | $165,000 |
| John A. Utz | $490,000 | 110% | $539,000 | $404,250 | $134,750 |
| Randall J. Erickson | $498,000 | 100% | $498,000 | $373,500 | $124,500 |
| Julio N. Manso | $450,000 | 90% | $405,000 | $303,750 | $101,250 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.