Form 4: Nicolet Bankshares Director Boosts Stake

Nicolet Bankshares Director Christopher J. Ghidorzi acquired additional common stock through a deferred compensation plan.

Summary

• Christopher J. Ghidorzi, a Director of Nicolet Bankshares Inc. (NIC), acquired 17.543 shares of common stock.
• The acquisition occurred on October 21, 2025, at a price of $129.4 per share.
• These shares were acquired indirectly through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors, by deferring a portion of his third-quarter 2025 earned board fees.
• The indirect beneficial ownership in the deferred compensation plan now totals 3,360.427 shares, which includes 8.001 shares received from dividend reinvestment on September 15, 2025.
• Ghidorzi also directly beneficially owns 8,351 shares of common stock, bringing his total beneficial ownership to 11,711.427 shares.

Sentiment

Score: 7

Explanation: The director's acquisition of shares, particularly through a deferred compensation plan, indicates a positive alignment of interests and confidence in the company's future, though the transaction size is small relative to total shares outstanding.

Positives

• Director Ghidorzi increased his beneficial ownership in the company, signaling confidence in its future prospects.
• The acquisition was part of a deferred compensation plan, aligning director interests with long-term shareholder value.

Future Outlook

NA

Industry Context

This transaction reflects a standard practice for directors to increase their stake in the company, often through compensation deferral plans, which is common in the banking and financial services sector to align management interests with shareholder returns.

Related Party Transactions

• The acquisition of shares by Director Christopher J. Ghidorzi 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: Increased confidence due to director's increased stake, signaling belief in future performance.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.

Key Dates

Recommendation

The director's acquisition of shares, while a positive signal of confidence, is a routine transaction through a deferred compensation plan and relatively small in scale. It does not provide new fundamental information significant enough to warrant a change from a 'hold' position based solely on this filing. It reinforces existing sentiment rather than altering the investment thesis.

Keywords

Nicolet Bankshares, NIC, Form 4, Insider Trading, Director Stock Acquisition, Deferred Compensation, Bank Stock, Financial Services