NBHC (NBHC) president has shares withheld to cover taxes on restricted stock vesting

Rhea-AI Filing Summary

National Bank Holdings Corp President Aldis Birkans had shares withheld to cover taxes on restricted stock vesting. On the transaction date, 3,259 shares of common stock were disposed of at $43.27 per share as a tax-withholding disposition, not an open-market sale.

The shares were withheld in connection with vesting of restricted stock awards granted on April 1, 2023, 2024, and 2025. After this event, Birkans directly holds 261,186 shares of common stock, including 214,275 shares of restricted common stock. This filing reflects routine compensation-related tax handling.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Birkans Aldis

Role PRESIDENT

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	3,259	$43.27	$141K

Holdings After Transaction: Common Stock — 261,186 shares (Direct, null)

Footnotes (1)

1. Represents shares withheld for payment of tax liability upon vesting of a portion of the restricted stock awards granted to the reporting person on 4/1/2023, 4/1/2024, and 4/1/2025. Includes 214,275 shares of restricted common stock.

Key Figures

Tax-withheld shares: 3,259 shares Withholding price: $43.27 per share Post-transaction holdings: 261,186 shares +2 more

5 metrics

Tax-withheld shares 3,259 shares Shares withheld for tax liability on vesting

Withholding price $43.27 per share Value used for tax-withholding disposition

Post-transaction holdings 261,186 shares Common stock held directly after transaction

Restricted shares included 214,275 shares Restricted common stock within total holdings

Transaction code F Payment of tax liability by delivering securities

Key Terms

tax-withholding disposition, restricted stock awards, restricted common stock, Form 4, +1 more

5 terms

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

restricted stock awards financial

"upon vesting of a portion of the restricted stock awards granted"

Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.

restricted common stock financial

"Includes 214,275 shares of restricted common stock."

Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

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.

transaction code F regulatory

"transaction_code": "F""

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^*

Birkans Aldis

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

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	04/28/2026		F		3,259(1)	D	$43.27	261,186(2)	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. Represents shares withheld for payment of tax liability upon vesting of a portion of the restricted stock awards granted to the reporting person on 4/1/2023, 4/1/2024, and 4/1/2025.

2. Includes 214,275 shares of restricted common stock.

	/s/ Aldis Birkans	04/30/2026
	** 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 President Aldis Birkans report on this Form 4?

Aldis Birkans reported a tax-withholding disposition of 3,259 shares of National Bank Holdings Corp common stock at $43.27 per share. The shares were withheld by the company to cover tax liabilities arising from vesting restricted stock awards granted in 2023, 2024, and 2025.

Was the NBHC Form 4 transaction an open-market sale of shares?

No, the Form 4 shows a code F transaction, meaning shares were withheld to pay taxes, not sold in the open market. This is a routine mechanism where the issuer retains shares upon vesting of restricted stock to satisfy the reporting person’s tax obligations.

How many NBHC shares were involved in Aldis Birkans’ tax-withholding event?

The filing reports that 3,259 shares of National Bank Holdings Corp common stock were disposed of as part of a tax-withholding transaction. These shares were retained by the issuer to cover tax liabilities triggered by vesting of prior restricted stock awards granted on April 1 of 2023, 2024, and 2025.

How many NBHC shares does Aldis Birkans hold after this Form 4 transaction?

After the tax-withholding disposition, Aldis Birkans directly holds 261,186 shares of National Bank Holdings Corp common stock. According to the footnotes, this total includes 214,275 shares of restricted common stock, reflecting ongoing equity-based compensation awards that remain subject to vesting conditions.

What do the NBHC Form 4 footnotes say about the restricted stock awards?

The footnotes explain that the withheld shares relate to vesting of restricted stock awards granted on 4/1/2023, 4/1/2024, and 4/1/2025. A separate footnote states that the post-transaction holdings include 214,275 shares of restricted common stock, identifying how much of Birkans’ position remains restricted.

Does this NBHC Form 4 filing indicate a change in Aldis Birkans’ investment view?

The filing reflects a tax-withholding transaction, not a voluntary market trade, so it does not signal an investment decision to buy or sell. Shares were withheld automatically to satisfy tax liabilities upon vesting of previously granted restricted stock awards, a common compensation practice.