Form 4: Nicolet Bankshares Director Reports Tax-Related Stock Disposition

Nicolet Bankshares Director Robert Bruce Atwell reported a disposition of 166 shares of common stock to satisfy tax obligations related to vested restricted stock.

Summary

• Robert Bruce Atwell, a Director of Nicolet Bankshares Inc. (NIC), reported a transaction on November 20, 2025.
• The transaction involved the disposition of 166 shares of common stock at a price of $120.2 per share.
• These shares were withheld to satisfy tax obligations arising from the vesting of restricted stock.
• Following this transaction, Mr. Atwell directly beneficially owns 34,054 shares of common stock.
• Additionally, Mr. Atwell indirectly beneficially owns 537.886 shares through the Nicolet National Bank Deferred Compensation Plan For Non-employee Directors.

Sentiment

Score: 5

Explanation: The transaction is a non-discretionary disposition of shares for tax purposes, which is a neutral event and does not indicate a change in sentiment regarding the company's prospects.

Future Outlook

NA

Industry Context

This is a routine insider transaction filing for a director of a bank holding company, reflecting a common event related to executive compensation and tax obligations. It does not provide broader insights into industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: This routine tax-related disposition has minimal direct impact on shareholders, as it's a standard part of executive compensation and not a discretionary sale.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary transaction (shares withheld for tax obligations) by a director. It does not provide new information that would warrant a change in investment recommendation. The transaction is a standard event related to equity compensation and does not reflect a change in the insider's confidence or the company's fundamentals. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present a compelling reason to buy or sell.

Keywords

Nicolet Bankshares, NIC, Form 4, Insider Transaction, Director, Common Stock, Tax Withholding, Restricted Stock