Form 4: NBHC CFO Reports Routine Stock Transaction

National Bank Holdings Corp's CFO, Nicole Van Denabeele, reported a routine disposition of 138 common shares to cover tax liabilities from a restricted stock award vesting, while also acquiring 105 shares via an employee plan.

Summary

• Nicole Van Denabeele, Chief Financial Officer of National Bank Holdings Corp (NBHC), reported a transaction involving the company's common stock.
• On October 1, 2025, 138 shares of common stock were disposed of at a price of $38.4 per share.
• This disposition represents shares withheld for the payment of tax liability upon the vesting of a portion of a restricted stock award.
• The restricted stock award was originally granted to the reporting person on November 5, 2024.
• Following this transaction, Nicole Van Denabeele beneficially owns 13,061 shares of common stock.
• The reported beneficial ownership includes 105 shares acquired under the National Bank Holdings Corporation Employee Stock Purchase Plan on August 29, 2025, which is exempt under Rule 16b-3.

Sentiment

Score: 6

Explanation: The transaction is largely routine, involving tax withholding for restricted stock vesting. The simultaneous acquisition of shares via an ESPP adds a slightly positive nuance, indicating continued insider investment.

Positives

• The acquisition of 105 shares through the Employee Stock Purchase Plan (ESPP) on August 29, 2025, indicates continued investment by the Chief Financial Officer in the company's equity.

Negatives

• The disposition of 138 shares, even for tax purposes, results in a reduction of the Chief Financial Officer's direct beneficial ownership.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, small-scale insider transaction for tax purposes, not indicative of a change in company fundamentals or insider sentiment.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction where the CFO disposed of a small number of shares to cover tax obligations from a restricted stock award. Such transactions are common and do not typically reflect a change in the company's fundamental outlook or the insider's long-term confidence. The concurrent acquisition of shares through an employee stock purchase plan further reinforces a neutral to slightly positive stance. Therefore, the filing itself does not warrant a change in investment recommendation, and a 'hold' position is maintained.

Keywords

National Bank Holdings Corp, NBHC, Form 4, Insider Transaction, Common Stock, Restricted Stock, Tax Withholding, Employee Stock Purchase Plan, CFO