Form 4: Nicolet Bankshares Director Acquires Shares via Deferred Comp

Nicolet Bankshares Director Donald J. Long Jr. acquired 15.367 shares of common stock through a deferred compensation plan, reflecting a reinvestment of board fees and dividends.

Summary

• Donald J. Long Jr., a Director of Nicolet Bankshares Inc. (NIC), acquired 15.367 shares of common stock.
• The acquisition occurred on January 20, 2026, at a price of $131.43 per share.
• These shares were acquired indirectly through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.
• The acquisition resulted from deferring fourth-quarter 2025 earned board fees.
• The reported beneficial ownership following this transaction is 5,598.625 shares, held indirectly.
• The total beneficial ownership includes 13.565 shares received as dividend reinvestment from a cash dividend paid on December 15, 2025.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive as a director is increasing their stake, albeit through a routine deferred compensation plan and dividend reinvestment. This indicates continued alignment with shareholder interests.

Positives

• A director increasing their stake, even indirectly through a deferred compensation plan, can signal confidence in the company's future performance.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-planned and systematic approach to share acquisition.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

Director stock acquisitions, particularly through deferred compensation plans, are common in the banking industry. They align the interests of management and directors with those of shareholders, reflecting a commitment to the company's long-term success. This specific transaction is a routine insider filing for a pre-planned acquisition.

Corporate Governance

Related Party Transactions

• The acquisition of shares through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors can be considered a related party transaction, as it involves a director and a company-sponsored plan.

Stakeholder Impact

• Shareholders: The director's increased indirect ownership may be viewed positively as it aligns their interests with those of other shareholders, potentially signaling confidence in the company's future.

Key Dates

Recommendation

This Form 4 filing details a routine, pre-planned insider transaction of a relatively small number of shares by a director. While it indicates continued alignment of interests, it does not present new information significant enough to alter the fundamental investment thesis or warrant a change in recommendation based solely on this filing.

Keywords

Nicolet Bankshares, NIC, Insider Transaction, Form 4, Director Stock Acquisition, Deferred Compensation, Dividend Reinvestment, 10b5-1 Plan