Form 4: Nicolet Bankshares Director Defers Fees for Stock

Nicolet Bankshares director Hector Colon acquired additional common stock through a deferred compensation plan by deferring his Q4 2025 board fees.

Summary

• Hector Colon, a Director of Nicolet Bankshares Inc. (NIC), acquired 15.367 shares of common stock on January 20, 2026.
• The acquisition was made at a price of $131.43 per share, totaling approximately $2,019.99.
• This transaction was executed by deferring Mr. Colon's fourth quarter 2025 earned board fees into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.
• Following this transaction, Mr. Colon beneficially owns 1,059.617 shares indirectly through the deferred compensation plan.
• The reported indirect ownership also includes 2.537 shares received as dividend reinvestment from a cash dividend paid on December 15, 2025.
• Mr. Colon also directly holds 3,796 shares of common stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. While the transaction size is small, it represents a director increasing their stake in the company through a deferred compensation plan, which generally signals confidence and aligns management interests with shareholders. It's a routine, pre-planned transaction rather than a discretionary open-market purchase, which tempers the 'strong buy' signal but is still a positive indicator.

Positives

• Director Hector Colon increased his beneficial ownership in Nicolet Bankshares Inc., aligning his interests further with shareholders.
• The transaction was part of a pre-planned deferred compensation arrangement, indicating a structured approach to executive compensation and long-term commitment.

Future Outlook

The filing does not contain forward-looking statements or guidance beyond the reported transaction details.

Industry Context

Director stock acquisitions, particularly through deferred compensation plans, are common practices in the banking industry. They serve to align the interests of board members with those of shareholders, promoting long-term value creation. This type of transaction is a routine disclosure for publicly traded companies.

Comparison to Industry Standards

• Director participation in deferred compensation plans that convert fees into company stock is a standard corporate governance practice across various industries, including financial services.
• This practice is consistent with compensation strategies at comparable regional banks, which often encourage insider ownership to demonstrate confidence in the company's future performance.

Related Party Transactions

• The acquisition of shares occurred through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors, which is a standard compensation arrangement between the company and its director.

Stakeholder Impact

• Shareholders: Positive, as increased director ownership aligns management incentives with shareholder interests, potentially fostering long-term value creation.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Keywords

Nicolet Bankshares, NIC, Hector Colon, Insider Transaction, Form 4, Director Stock Acquisition, Deferred Compensation, Equity Compensation, Bankshares