Sundar PichaiSundar Pichai earned $164M in 2023

Andrew J. Harmening has been the President and CEO of Associated Banc-Corp since April 2021. With over 25 years of experience in banking, he previously held key roles at Huntington Bank, where he was the Senior EVP and Consumer and...

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Andrew J. Harmening

CEO of Associated Banc-Corp

Education

MBA from University of Cincinnati

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

April 28, 1969 - 56 years ago

CEO of Associated Banc-Corp for

4 years 1 month (Apr 2021 - Present)

Previous Experience

Senior Executive Vice President and Consumer and Business Banking Director at Huntington Bancshares

Holdings

See how much did Andrew J. Harmening make over time.

As of now, Andrew J. Harmening owns 282,544 shares of Associated Banc-Corp. This number reflects a solid commitment to the company, showing his investment in its success. Looking back, the overall market trajectory and company growth have influenced his holdings...

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Total Stock Sold

$1.17M

ASB

$1.17M

51,352 ASB shares

What if they kept their stock?

If Andrew J. Harmening didn't sell their stock, today they would have:
Extra ASB51,352 shares worth $752.31K.
This is -35.94% and $422.11K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Andrew J. Harmening.

ASB

$1.54M

ASB at $21.45/share

Mar 10, 2025

Received

ASB

56,610 shares

ASB

Jan 29, 2025

Received

ASB

$918.85K

ASB at $20.70/share

Mar 13, 2024

Received

ASB

30,592 shares

ASB

Jan 30, 2024

Received

ASB

$99.79K

ASB at $20.58/share

Mar 9, 2023

Purchase

ASB

29,314 shares

ASB

Jan 30, 2023

Received

ASB

25,593 shares

ASB

Jan 25, 2022

Received

ASB

$1.18M

ASB at $22.90/share

Jun 2, 2021

Sale

ASB

$7.81M

ASB at $21.66/share

Apr 28, 2021

Received

HBAN

43,757 shares

HBAN

May 1, 2020

Received

Compensation History

See how much did Andrew J. Harmening make over time.

In 2023, Andrew J. Harmening's total reported compensation was about $4.7 million. His salary for the year was around $1 million. Interestingly, he received no cash bonuses for 2022 and 2023. Instead, much of his compensation came from vested stock units worth nearly $2 million in 2023 alone. For 2021, his first year as CEO, he had a much higher total compensation, peaking at over $11.7 million, mainly due to a sign-on stock award package. The compensation structure is designed to tie in with performance metrics that aim to boost long-term value creation for shareholders, involving factors such as net income and operating leverage. This approach indicates that Harmening's success is closely intertwined with the company's performance, aligning his interests with those of shareholders.

Year

2023

Total Compensation

$3.07M

Salary

$1.03M

Board Justification

The compensation program is designed to attract, retain, and reward executives while aligning their interests with long-term shareholder value creation, with a significant portion of compensation tied to performance metrics.

Bonus

$0.00

Board Justification

No cash bonus was awarded for 2023.

Other

$101.47K

Board Justification

Other compensation includes employer contributions to the SERP, 401(k) match, financial planning services, and executive physicals.

Restricted Stock

$1.94M(96.54K RSU)

Board Justification

96,543 shares of restricted stock units (RSUs) vested in 2023, valued at $1,939,961 based on the closing price of Associated common stock on the date restrictions lapsed.

Performance Metrics

The performance metrics for 2023 included net income after tax, revenue before long-term credit charge, and operating leverage.

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