Form 4: Nicolet Bankshares Director Exercises Stock Options and Sells Shares

Nicolet Bankshares Inc. Director Robert Bruce Atwell exercised 10,000 stock options and subsequently sold a portion of the acquired shares and other common stock, reducing his direct beneficial ownership to 34,220 shares.

Summary

• Robert Bruce Atwell, a Director of Nicolet Bankshares Inc. (NIC), reported transactions on May 30, 2025.
• Mr. Atwell exercised 10,000 nonqualified stock options at an exercise price of $48.85 per share.
• Following the option exercise, he disposed of 6,792 shares of common stock at $123.8 per share to cover the exercise price or tax liability (transaction code 'F').
• Additionally, Mr. Atwell sold 2,266 shares of common stock at a weighted average price of $123.23 per share, with prices ranging from $122.775 to $123.770.
• He also sold another 942 shares of common stock at a weighted average price of $123.88 per share, with prices ranging from $123.790 to $124.015.
• After these transactions, Mr. Atwell's direct beneficial ownership of Nicolet Bankshares common stock stands at 34,220 shares.
• He also indirectly owns 339.868 shares through the Nicolet National Bank Deferred Compensation Plan For Non-employee Directors.
• The nonqualified options exercised were fully vested as of May 16, 2022, and 45,000 shares remain exercisable as of the report date, with an expiration date of May 16, 2027.

Sentiment

Score: 5

Explanation: The document reports routine insider transactions (option exercise and subsequent sales) which are common for executives monetizing vested equity. It does not inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Positives

• The insider exercised options at a significantly lower price ($48.85) than the market price at which shares were sold (ranging from $122.775 to $124.015), indicating a profitable transaction for the director.

Negatives

• The sale of 9,990 shares by a director could be perceived as a reduction in insider confidence, although it is a common practice for executives to monetize vested options.

Future Outlook

N/A

Industry Context

This Form 4 filing details an insider transaction, which is a routine disclosure for publicly traded companies. It does not provide broader industry context or trends for the banking sector.

Stakeholder Impact

• Shareholders: The sale of shares by a director could be viewed as a minor signal, but it's a common event for option exercises and generally not indicative of significant changes in company fundamentals unless it's a very large, unusual sale.

Key Dates

Keywords

Nicolet Bankshares, NIC, Form 4, Insider Trading, Stock Option Exercise, Share Sale, Director Transaction, Beneficial Ownership, Financial Services, Banking