Form 4: Nicolet Bankshares Director Susan L. Merkatoris Acquires 404 Shares of Common Stock

Director Susan L. Merkatoris acquired 404 shares of Nicolet Bankshares common stock as part of her annual board retainer.

Summary

• On May 20, 2025, Susan L. Merkatoris, a director of Nicolet Bankshares Inc., acquired 404 shares of common stock.
• The acquisition was part of the Board annual retainer, granted as a restricted stock award with immediate full vesting.
• The price per share was $123.48.
• Following the transaction, Ms. Merkatoris directly owns 78,622 shares of Nicolet Bankshares Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director increasing their stake in the company is generally viewed favorably, indicating confidence in the company's future.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.

Industry Context

Directors receiving stock as part of their compensation is a common practice in the banking industry, aligning their interests with those of the shareholders.

Comparison to Industry Standards

• Comparing the director's stock ownership to peers like Associated Banc-Corp or Green Bay's own Baylake Corp (if it were still independent) would provide context on whether her stake is typical.
• Director compensation packages, including stock awards, are often benchmarked against similar-sized banks in the region.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders as it signals confidence from a company director.

Key Dates

Keywords

Nicolet Bankshares, Director, Stock Acquisition, Form 4, Beneficial Ownership, Merkatoris, Board Retainer, Restricted Stock