Form 4: Nicolet Bankshares EVP Reports Routine Stock Transactions

Nicolet Bankshares EVP William M. Bohn reported a tax-related stock disposition and an acquisition through the Employee Stock Purchase Plan.

Summary

• William M. Bohn, Executive Vice President of Wealth Management at Nicolet Bank and a Director of Nicolet Bankshares Inc. (NIC), reported changes in his beneficial ownership.
• On November 19, 2025, 136 shares of Common Stock were withheld to satisfy tax obligations related to vested restricted stock.
• The price per share for the withheld stock was $120.04.
• An additional 45 shares were acquired under the Employee Stock Purchase Plan (ESPP) since Mr. Bohn's last Form 4 filing on April 17, 2025.
• Mr. Bohn now beneficially owns a total of 11,443 shares of Common Stock directly.
• His total holdings in the Employee Stock Purchase Plan amount to 94 shares as of the report date.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions (tax withholding and ESPP acquisition) which are neutral in sentiment. There are no significant positive or negative implications for the company's performance or outlook.

Positives

• The acquisition of 45 shares through the Employee Stock Purchase Plan indicates continued employee investment and alignment with company performance.

Negatives

• The disposition of 136 shares was due to tax withholding on vested restricted stock, which is a routine event and not indicative of a negative outlook.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction filing for a financial institution executive. Such filings are common in the banking sector as executives often receive compensation in the form of restricted stock and participate in employee stock plans.

Comparison to Industry Standards

• The reported transactions are standard for executives in publicly traded companies, particularly the withholding of shares for tax purposes upon the vesting of restricted stock, which is a common compensation practice across industries, including banking.
• Employee Stock Purchase Plans (ESPPs) are also a widely adopted benefit, encouraging employee ownership and aligning interests with shareholders, consistent with practices at comparable regional banks.

Stakeholder Impact

• Shareholders: The filing provides transparency regarding an executive's stock ownership changes, which is standard for corporate governance. The transactions themselves are routine and unlikely to have a material impact on shareholder value.
• Employees: The continued participation in the Employee Stock Purchase Plan by an executive reinforces the value of such programs for employee wealth building and alignment with company success.

Key Dates

Keywords

Nicolet Bankshares, NIC, Form 4, Insider Transaction, Stock Ownership, Employee Stock Purchase Plan, Restricted Stock, Wealth Management