What was the value per share of the NIC stock granted to Susan Merkatoris?

The 429 granted shares were valued at $139.63 per share. This price is shown as the transaction price per share for the restricted stock award representing her Board annual retainer, which fully vested on May 19, 2026.

Nicolet Bankshares (NIC) director receives 429-share stock award as board retainer

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

MERKATORIS SUSAN L reported acquisition or exercise transactions in this Form 4 filing.

Nicolet Bankshares director Susan L. Merkatoris received a grant of 429 shares of Common Stock as board compensation. The shares were granted as a restricted stock award for the Board annual retainer and vested immediately on May 19, 2026. Following this award, she directly holds 78,946 shares, reflecting routine, compensation-related equity rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MERKATORIS SUSAN L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	429	$139.63	$60K

Holdings After Transaction: Common Stock — 78,946 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares granted: 429 shares Grant price per share: $139.63 per share Total shares after transaction: 78,946 shares

3 metrics

Shares granted 429 shares Restricted stock award for Board annual retainer on May 19, 2026

Grant price per share $139.63 per share Valuation for restricted stock award

Total shares after transaction 78,946 shares Director’s direct holdings following the grant

Key Terms

restricted stock award, Board annual retainer, Form 4, Common Stock

4 terms

restricted stock award financial

"granted as a restricted stock award with an immediate full vest of 429 shares"

A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.

Board annual retainer financial

"The Company paid Ms. Merkatoris the Board annual retainer, granted as a restricted stock award"

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.

Common Stock financial

"security_title": "Common Stock""

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.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 01:48 PM

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^*

MERKATORIS SUSAN L

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/19/2026		A		429⁽¹⁾	A	$139.63	78,946	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The Company paid Ms. Merkatoris the Board annual retainer, granted as a restricted stock award with an immediate full vest of 429 shares, as of May 19, 2026.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Susan L. Merkatoris	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did NIC director Susan Merkatoris report on this Form 4?

Director Susan L. Merkatoris reported receiving 429 shares of Nicolet Bankshares Common Stock as an equity grant. The award represents her Board annual retainer, delivered as restricted stock with immediate full vesting as of May 19, 2026.

Was the Susan Merkatoris Form 4 for NIC a stock purchase or a grant?

The Form 4 shows a stock grant, not an open-market purchase. Susan L. Merkatoris received 429 shares as a restricted stock award representing her Board annual retainer, with the shares fully vesting immediately on May 19, 2026.

How many Nicolet Bankshares shares does Susan Merkatoris hold after this Form 4?

After the reported grant, Susan L. Merkatoris directly holds 78,946 shares of Nicolet Bankshares Common Stock. The Form 4 shows this total share ownership following the award of 429 fully vested restricted shares on May 19, 2026.

Is the Susan Merkatoris NIC Form 4 a routine compensation event?

Yes, the Form 4 reflects routine board compensation. Nicolet Bankshares paid Susan L. Merkatoris her Board annual retainer in the form of a restricted stock award of 429 shares, which fully vested immediately as of May 19, 2026.