Form 4: Nicolet Bankshares Director Ghidorzi Receives Stock Award

Christopher J. Ghidorzi, a director of Nicolet Bankshares, acquired 626 shares of common stock as part of his board annual retainer.

Summary

• Christopher J. Ghidorzi, a director of Nicolet Bankshares Inc., acquired 626 shares of common stock on May 28, 2024.
• The acquisition was part of the board annual retainer, granted as a restricted stock award with immediate full vesting.
• The price per share was $79.83.
• Following the transaction, Ghidorzi directly owns 7,947 shares of common stock and indirectly owns 2,998 shares through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns interests. There are no indications of negative performance or concerns.

Positives

• The stock award aligns the director's interests with those of the shareholders.
• Immediate vesting provides an incentive for the director to contribute to the company's success.

Industry Context

This type of stock award is a common practice for compensating board members in the banking industry, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Stock awards are a typical component of director compensation packages in the banking industry.
• Companies like Associated Banc-Corp (ASB) and Green Bay-based competitor, Baylake Corp (BHLB) before its acquisition, have similar compensation structures for their board members, often including a mix of cash retainers and stock-based awards.
• The size of the award is consistent with industry norms for regional banks of Nicolet's size.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders, potentially leading to better decision-making for the company's long-term success.

Key Dates