Associated Banc-Corp 8-K, filed Jan 27, 2022
Associated Banc-Corp (ASB)
About this 8-K
Associated Banc-Corp filed this 8-K on January 27, 2022, reporting on events of January 25, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Under the Retirement Agreement dated as of January 19, 2021 (the “Retirement Agreement”) by and between Associated Banc-Corp (the “Company”) and Philip B. Flynn, the former President and Chief Executive Officer of the Company, Mr. Flynn is entitled to receive, among other things, a contribution to the Supplemental Executive Retirement Plan, as amended and restated effective November 21, 2016 (the “SERP”), at a minimum of 12.5% of his eligible compensation through his Retirement Date of December 31, 2021.
In order to comply with the Retirement Agreement obligation described above, on January 25, 2022, the Compensation and Benefits Committee of the Company’s Board of Directors approved a waiver to the requirement under Section 4.01(c) of the SERP that the participant be employed by the Company in order to accrue a benefit under the SERP. As a result, Mr. Flynn will be eligible to receive a contribution to the SERP of approximately $108,000 in accordance with the terms of the Retirement Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 27, 2022 | ASSOCIATED BANC-CORP (Registrant) |
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By: /s/ Randall J. Erickson Name:Randall J. Erickson Title:Executive Vice President, General Counsel and Corporate Secretary
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