National Bank Holdings (NYSE: NBHC) stock withheld to cover RSU tax

Rhea-AI Filing Summary

National Bank Holdings Corp reported a routine insider tax-withholding event. Chief Corporate Development Officer and Treasurer Daniel L. Sznewajs had 254 shares of common stock withheld at $43.27 per share to cover tax liability when portions of restricted stock awards vested.

After this non-market transaction, he directly holds 5,549 shares of common stock, including 4,632 shares of restricted common stock. The filing reflects compensation-related share vesting and associated tax payments rather than an open-market sale or purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sznewajs Daniel L

Role CHIEF CORP DEV OFFICER & TREAS

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	254	$43.27	$11K

Holdings After Transaction: Common Stock — 5,549 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 4/1/2024 and 4/1/2025. Includes 4,632 shares of restricted common stock.

Key Figures

Shares withheld for taxes: 254 shares Withholding price per share: $43.27 per share Shares held after transaction: 5,549 shares +1 more

4 metrics

Shares withheld for taxes 254 shares Withheld for tax liability on 04/28/2026 vesting

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

Shares held after transaction 5,549 shares Direct NBHC common stock holdings post-transaction

Restricted common stock included 4,632 shares Portion of post-transaction holdings that is restricted

Key Terms

restricted stock awards, tax liability, restricted common stock

3 terms

restricted stock awards financial

"upon vesting of a portion of the restricted stock awards granted to the reporting person"

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.

tax liability financial

"shares withheld for payment of tax liability upon vesting"

restricted common stock financial

"Includes 4,632 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 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^*

Sznewajs Daniel L

(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)
	CHIEF CORP DEV OFFICER & TREAS

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		254(1)	D	$43.27	5,549(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 4/1/2024 and 4/1/2025.

2. Includes 4,632 shares of restricted common stock.

	/s/ Daniel Sznewajs	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 executive Daniel L. Sznewajs report?

Daniel L. Sznewajs reported a tax-withholding disposition of 254 NBHC common shares. The shares were withheld to pay taxes upon vesting of restricted stock awards, rather than being sold in the open market.

Was the NBHC Form 4 transaction a sale of shares by the insider?

The transaction was not an open-market sale. NBHC withheld 254 shares from Daniel L. Sznewajs to satisfy tax liabilities from vesting restricted stock awards, a standard compensation-related event rather than a discretionary stock sale.

How many NBHC shares does Daniel L. Sznewajs hold after this Form 4?

After the tax-withholding transaction, Daniel L. Sznewajs directly holds 5,549 NBHC common shares. This total includes 4,632 shares of restricted common stock that remain subject to vesting or other award conditions.

What triggered the tax-withholding of NBHC shares on this Form 4?

The withholding was triggered by the vesting of portions of restricted stock awards granted on April 1, 2024 and April 1, 2025. When these awards vested, NBHC retained 254 shares to cover the related tax liability.

Does this NBHC insider filing indicate any option exercises or derivative trades?

The filing does not show any option exercises or derivative transactions. It records only a non-derivative common stock tax-withholding event tied to restricted stock award vesting for Daniel L. Sznewajs.