Form 4: Nicolet Bankshares EVP Awarded Restricted Stock

Nicolet Bankshares EVP Brad Hutjens received an award of 3,850 restricted common shares at $131.43 per share, vesting over five years.

Summary

• Brad Vincent Hutjens, EVP CCO of Nicolet National Bank, a subsidiary of Nicolet Bankshares Inc. (NIC), was awarded 3,850 shares of common stock.
• The transaction occurred on January 20, 2026, with the shares valued at $131.43 per share at the time of award.
• These restricted shares will vest annually in five equal installments, beginning on January 20, 2027, and will be fully vested by January 20, 2031.
• Following this transaction, Mr. Hutjens directly beneficially owns 33,287 shares of common stock.
• Additionally, Mr. Hutjens indirectly owns 1,818 shares through a 401(k) Plan.
• An additional 22 shares were acquired under the Employee Stock Purchase Plan since the last Form 4 filing on November 24, 2025, bringing his total ESPP holdings to 848 shares.

Sentiment

Score: 7

Explanation: The award of restricted stock to a key executive is a positive sign of management alignment with shareholder interests, though it is a standard compensation event and does not indicate extraordinary performance or new strategic initiatives.

Positives

• The award of restricted shares to a key executive, Brad Vincent Hutjens, aligns management's interests with those of shareholders, as the value of his compensation is tied to the company's stock performance.
• The vesting schedule over five years encourages long-term commitment and performance from the executive.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the vesting schedule for the awarded restricted shares.

Industry Context

The award of restricted stock to an executive is a common practice in the banking and financial services industry as a form of long-term incentive compensation, designed to retain key talent and align executive performance with shareholder value creation.

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholder value through equity ownership and long-term vesting incentives.
• Employees: The Employee Stock Purchase Plan (ESPP) allows broader employee participation in company ownership, fostering a sense of shared success.

Next Steps

• The restricted shares will vest in five equal annual installments, with the first installment on January 20, 2027, and full vesting by January 20, 2031.

Key Dates

Keywords

Nicolet Bankshares, NIC, Form 4, Insider Trading, Restricted Stock, Executive Compensation, Stock Award, Brad Hutjens, Banking, Financial Services