National Bank Holdings (NBHC) director sells 963 shares, keeps 37,157

Rhea-AI Filing Summary

National Bank Holdings Corp director Maria F. Spring reported an open-market sale of 963 shares of common stock at $41.84 per share. After this transaction, she directly holds 37,157 shares, including 3,153 unvested shares of restricted stock, indicating she retains a substantial ongoing equity stake in the company.

Insider Trade Summary

Net Seller: 963 shares ($40,292)

Net Sell 1 txn

Insider Spring Maria F

Role null

Sold 963 shs ($40K)

Type	Security	Shares	Price	Value
Sale	Common Stock	963	$41.84	$40K

Holdings After Transaction: Common Stock — 37,157 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 963 shares Sale price: $41.84 per share Shares held after transaction: 37,157 shares +1 more

4 metrics

Shares sold 963 shares Open-market sale on 2026-05-20

Sale price $41.84 per share Price for NBHC common stock sold

Shares held after transaction 37,157 shares Total direct NBHC holdings post-sale

Unvested restricted stock 3,153 shares Portion of post-transaction holdings that are unvested

Key Terms

open-market sale, restricted stock, Form 4, non-derivative

4 terms

open-market sale financial

"reported an open-market sale of 963 shares of common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

restricted stock financial

"Total includes 3,153 unvested shares of restricted stock."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Form 4 regulatory

"This Form 4 filing reflects a routine disposition"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

non-derivative financial

"The filing shows only a non-derivative transaction"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Spring Maria F

(Last) (First) (Middle)

7800 EAST ORCHARD ROAD

SUITE 300

(Street)

GREENWOOD VILLAGE COLORADO 80111

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
National Bank Holdings Corp [ NBHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/20/2026		S		963	D	$41.84	37,157(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Total includes 3,153 unvested shares of restricted stock.

	/s/ Amy Abrams, Attorney-in-Fact	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did NBHC director Maria F. Spring report?

Maria F. Spring reported an open-market sale of 963 National Bank Holdings Corp common shares at $41.84 per share. This Form 4 filing reflects a routine disposition while she continues to hold a significant remaining equity position in the company.

How many NBHC shares does Maria F. Spring hold after this Form 4 sale?

After selling 963 shares, Maria F. Spring directly holds 37,157 NBHC common shares. This total includes 3,153 unvested restricted stock shares, showing that most of her ownership interest remains intact following the reported open-market transaction.

Was the NBHC insider transaction a purchase or sale of shares?

The transaction was a sale of shares. Maria F. Spring executed an open-market sale of 963 NBHC common shares at $41.84 per share, as disclosed in the Form 4 insider trading report filed with regulators.

What portion of Maria F. Spring’s NBHC holdings are unvested restricted stock?

Out of Maria F. Spring’s 37,157 NBHC shares after the sale, 3,153 are unvested restricted stock. Restricted stock typically vests over time, aligning director compensation with long-term shareholder interests through continued service and company performance requirements.

Does the NBHC insider sale involve any derivative securities or option exercises?

No derivative securities or option exercises are reported in this Form 4. The filing shows only a non-derivative transaction: an open-market sale of 963 NBHC common shares, with no accompanying option exercises or other derivative activity disclosed.