Form 4: Nicolet Bankshares Director Hetzel Jr. Receives Stock Award

Director Andrew F. Hetzel Jr. of Nicolet Bankshares Inc. received 626 shares of common stock as part of his annual board retainer.

Summary

• Andrew F. Hetzel Jr., a director at Nicolet Bankshares Inc., acquired 626 shares of common stock on May 28, 2024.
• The shares were granted as a restricted stock award with immediate full vesting as part of his annual board retainer.
• The price per share was $79.83.
• Following the transaction, Hetzel directly owns 8,218 shares and indirectly owns 1,453 shares through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard compensation practice, indicating stability and alignment of interests.

Positives

• The stock award to a director aligns their interests with shareholders.
• Immediate vesting suggests confidence in the director's continued service and contribution.

Industry Context

Stock awards are a common form of compensation for board members in the banking industry, aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Director compensation packages vary across the banking industry, but stock awards are a typical component.
• Comparing the size of this award (626 shares at $79.83) to similar banks would require further research into their compensation policies.
• Companies like Associated Banc-Corp and Green Bay's own Baylake Corp (prior to its acquisition) would be good comparables.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders.
• This can potentially lead to decisions that benefit the company's long-term value.

Key Dates