Form 4: Nicolet Bankshares Executive Brad Hutjens Reports Stock Transactions

Brad Hutjens, EVP CCO of Nicolet National Bank, reports the acquisition of 3,195 shares and the disposal of 99 shares of Nicolet Bankshares stock.

Summary

• Brad Hutjens, an executive at Nicolet Bankshares, reported acquiring 3,195 shares of common stock on November 19, 2024, at a price of $109.82 per share.
• He also disposed of 99 shares on November 20, 2024, at $109.48 per share to cover tax obligations related to vested restricted stock.
• Following these transactions, Mr. Hutjens directly owns 29,593 shares and indirectly owns 1,818 shares through a 401(k) plan.
• The 3,195 shares were awarded as restricted stock, which will vest in five equal annual installments starting November 19, 2025, and fully vesting on November 19, 2029.
• Mr. Hutjens also owns 732 shares through the Employee Stock Purchase Plan, which have not changed since the last report on November 15, 2024.

Sentiment

Score: 7

Explanation: The document reflects standard executive stock transactions, which are neither particularly positive nor negative. The acquisition of shares is a positive sign, but the disposal for tax purposes is neutral.

Positives

• The acquisition of 3,195 shares indicates a continued investment in the company by a key executive.
• The vesting schedule of the restricted shares aligns the executive's interests with the long-term performance of the company.

Negatives

• The disposal of 99 shares, while for tax purposes, slightly reduces the executive's direct holdings.

Risks

• There are no specific risks mentioned in this document, which is a standard SEC Form 4 filing.

Industry Context

This is a routine filing related to executive stock transactions, which is common in the financial industry. It reflects standard practices for executive compensation and tax obligations.

Comparison to Industry Standards

• Executive stock transactions are a common practice across the financial industry, with similar filings made by executives at comparable institutions such as Associated Banc-Corp (ASBC) and First Midwest Bancorp (FMBI).
• The vesting schedule of the restricted stock is also a standard practice to align executive interests with long-term company performance, similar to programs at other regional banks.
• The use of an Employee Stock Purchase Plan is also a common benefit offered by many financial institutions, including those of similar size and scope to Nicolet Bankshares.

Stakeholder Impact

• The stock transactions may have a minor positive impact on shareholder confidence due to the executive's continued investment in the company.
• The vesting schedule of the restricted stock aligns the executive's interests with the long-term performance of the company, which is beneficial for shareholders.

Key Dates

Keywords

Nicolet Bankshares, insider trading, stock transaction, restricted stock, Form 4, executive compensation, employee stock purchase plan