Nicolet Bankshares director defers fees into stock

ATWELL ROBERT BRUCE reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

ATWELL ROBERT BRUCE reported acquisition or exercise transactions in this Form 4 filing.

Nicolet Bankshares Inc. director Robert Bruce Atwell increased his indirect holdings through deferred compensation. On May 19, 2026, he received a grant of 497.641 shares of Common Stock at $139.63 per share, credited to the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors. This reflects board and committee cash retainers he chose to defer into the plan. After this transaction, his indirect holdings in the plan totaled 1,066.087 shares, and his separate direct ownership stood at 34,483 shares of Common Stock.

Insider Trade Summary

Grant/Award: 497.641 shares

Grant/Award 2 txns

Insider ATWELL ROBERT BRUCE

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	497.641	$139.63	$69K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,066.087 shares (Indirect, by Nicolet National Bank Deferred Compensation Plan For Non-employee Directors); Common Stock — 34,483 shares (Direct)

Footnotes (1)

1. F1. The Company paid Mr. Atwell the Board annual cash retainer and annual committee fees, all of which Mr. Atwell deferred into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

Key Figures

Shares granted via deferred compensation: 497.641 shares Reference price per share: $139.63 per share Indirect holdings after transaction: 1,066.087 shares +1 more

4 metrics

Shares granted via deferred compensation 497.641 shares Common Stock grant on May 19, 2026

Reference price per share $139.63 per share Value used for deferred compensation credit

Indirect holdings after transaction 1,066.087 shares Held via Deferred Compensation Plan for Non-employee Directors

Direct holdings after transaction 34,483 shares Common Stock held directly by Atwell

Key Terms

Deferred Compensation Plan, Non-employee Directors, Common Stock, grant, award, or other acquisition

4 terms

Deferred Compensation Plan financial

"deferred into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors"

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

Non-employee Directors financial

"Nicolet National Bank Deferred Compensation Plan for Non-employee Directors"

Non-employee directors are board members who do not work for the company as salaried employees and usually do not hold day-to-day management roles. They act like outside referees or independent coaches, providing oversight, asking tough questions, and protecting shareholders’ interests; investors care because these directors help ensure management is accountable, reduce conflicts of interest, and influence decisions that affect company strategy and long-term value.

Common Stock financial

"he received a grant of 497.641 shares of Common Stock at $139.63 per share"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NIC director Robert Bruce Atwell report in this Form 4 filing?

Robert Bruce Atwell reported an acquisition of 497.641 Nicolet Bankshares (NIC) common shares via a deferred compensation plan. These shares represent deferred board and committee cash fees credited as stock units rather than paid in cash.

How many Nicolet Bankshares (NIC) shares did Atwell acquire and at what price?

Atwell received 497.641 Nicolet Bankshares common shares at a reference price of $139.63 per share. The acquisition is coded as a grant or award, reflecting deferred compensation rather than an open-market stock purchase.

What are Robert Bruce Atwell’s Nicolet Bankshares (NIC) holdings after this transaction?

Following the reported transactions, Atwell directly owned 34,483 Nicolet Bankshares common shares and indirectly held 1,066.087 shares. The indirect position is held through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

How was the Nicolet Bankshares (NIC) deferred compensation plan involved in this Form 4?

Atwell’s board annual cash retainer and committee fees were deferred into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors. The plan credited these deferred amounts as 497.641 common shares at $139.63 per share.

Was Robert Bruce Atwell’s Nicolet Bankshares (NIC) transaction a market buy or a compensation grant?

The transaction was a compensation-related grant, coded “A” for grant, award, or other acquisition. It reflects deferred board and committee fees converted into 497.641 common shares, not an open-market purchase or sale of Nicolet Bankshares stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/26/2026 - 06:00 PM EDT Learn about SEC filing dates

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^*

ATWELL ROBERT BRUCE

(Last) (First) (Middle)

C/O NICOLET NATIONAL BANK

111 NORTH WASHINGTON STREET

(Street)

GREEN BAY WISCONSIN 54301

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NICOLET BANKSHARES INC [ NIC ]

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)
05/19/2026

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	05/19/2026	05/21/2026	A		497.641(1)	A	$139.63	1,066.087	I	by Nicolet National Bank Deferred Compensation Plan For Non-employee Directors
Common Stock								34,483	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. The Company paid Mr. Atwell the Board annual cash retainer and annual committee fees, all of which Mr. Atwell deferred into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Robert B. Atwell	05/26/2026
	** 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)