Kotouc Family Group Discloses 5.65% Stake in Associated Banc-Corp Post-Merger, Subject to Voting and Transfer Restrictions

summarizeSummary

A group of individuals and trusts, primarily the Kotouc family, has disclosed a 5.65% beneficial ownership stake in Associated Banc-Corp, acquired as consideration in the recent merger with American National Corporation, with shares subject to specific voting and transfer restrictions.

check_boxKey Events

• Significant Shareholder Group Emerges

  The Kotouc family group, including new director Wende L. Kotouc, now beneficially owns 10,648,000 shares, representing 5.65% of Associated Banc-Corp's common stock.

• Shares Acquired via Merger

  The ownership stake was acquired on April 1, 2026, as consideration for the merger with American National Corporation, which was completed on the same date.

• Voting and Transfer Restrictions Imposed

  The shares are subject to a Shareholders' Agreement, which includes a 60-day lock-up period, subsequent daily public sale limits for the first year, and an agreement to vote shares in accordance with the Issuer's board recommendations.

• New Board Member's Stake Detailed

  Wende L. Kotouc, who was appointed to Associated Banc-Corp's board in connection with the merger, is part of this reporting group.

auto_awesomeAnalysis

This Schedule 13D filing details the beneficial ownership of the Kotouc family group, including new director Wende L. Kotouc, following Associated Banc-Corp's acquisition of American National Corporation. The group now holds 5.65% of ASB's common stock, valued at approximately $279.7 million. While the merger and Wende Kotouc's board appointment were previously announced, this filing provides crucial details about the significant block of shares received by the former American National Corporation shareholders. Notably, these shares are subject to a Shareholders' Agreement that includes transfer restrictions for the first year post-merger and a voting agreement to align with the Issuer's board recommendations. This indicates a stable, aligned shareholder base for a substantial portion of the company's stock, reducing immediate selling pressure and potential for activist challenges from this group.