Associated Banc-Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report, dated April 27, 2021, covers the results of Associated Banc-Corp's 2021 Annual Meeting of Shareholders and subsequent Board actions taken on the same date. The Company is incorporated in Wisconsin and trades on the New York Stock Exchange under the symbol ASB.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. The report focuses on corporate governance outcomes and capital structure adjustments regarding preferred stock.
Material Changes and Corporate Actions
- Shareholder Vote Results: All 11 nominees for the Board of Directors were elected. Shareholders approved the advisory compensation of named executive officers and ratified KPMG LLP as the independent registered public accounting firm for 2021.
- Dividend Declaration: The Board declared dividends on outstanding common stock and all series of perpetual preferred stock (Series C, D, E, and F).
- Preferred Stock Redemption: The Board called for the redemption of all 2,600,000 outstanding Series C Depositary Shares (6.125% Perpetual Preferred Stock). The redemption is scheduled for June 15, 2021, at a price of $25 per share plus accrued and unpaid dividends.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of specific risks and contingencies beyond the standard disclosure of the redemption event.
Investor Verification Checklist
- Confirm the final settlement of the Series C Preferred Stock redemption on June 15, 2021.
- Verify the specific dividend amounts declared for common and preferred shares in the attached press release (Exhibit 99.1).
- Review the full voting breakdown to assess shareholder sentiment regarding executive compensation.