Associated Banc-Corp

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously announced, Randall J. Erickson, Executive Vice President, General Counsel and Corporate Secretary of Associated Banc-Corp (the “Company”), will retire from his position, effective October 13, 2026 (“Effective Date”). Mr. Erickson will remain in an advisory capacity through the end of 2026 to ensure a successful transition of his duties. In connection with the transition, the Company and Mr. Erickson entered into the Employment Transition - Letter Agreement dated September 21, 2026 (the “Letter Agreement”), providing that Mr. Erickson will serve in the role of Attorney-Advisor from the Effective Date to January 4, 2027 (the “Retirement Date”), reporting to the Company’s Chief Executive Officer and having such duties, authority and responsibility as the Chief Executive Officer and the General Counsel and Corporate Secretary shall determine. In addition, the Letter Agreement sets forth, without limitation, the following material terms: Mr. Erickson will maintain his current base salary through the Retirement Date. He will also retain all vested rights in the Company’s 401(k) plan, Supplemental Executive Retirement Plan, and Retirement Account Plan and will receive all payments due to him under the terms of those plans. He is eligible to participate in the Company’s short-term incentive program through the Retirement Date, and he will receive the full amount of his 2026 short-term incentive as calculated in accordance with applicable metrics. He will continue to vest in any unvested awards under the 2025-2027 Long-Term Incentive Performance Plan (“LTIPP”) and 2026-2028 LTIPP, all of which are issued under and governed by the 2025 Equity Incentive Plan and the award agreements issued thereunder. The foregoing description of the material terms of the Letter Agreement is a summary only and is qualified in its entirety by reference to the text of the Letter Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.