Nicolet Bankshares (NIC) director boosts holdings via deferred fee shares

Rhea-AI Filing Summary

Nicolet Bankshares Inc. director Donald J. Long Jr. reported an indirect acquisition of common stock through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors on January 20, 2026. The plan acquired 15.367 shares at $131.43 per share by deferring his fourth quarter 2025 board fees, increasing his indirectly held plan balance to 5,598.625 shares.

The filing also shows 80,684 common shares held directly following the reported transactions. Footnotes explain that the indirect holdings include 13.565 shares added through dividend reinvestment from a cash dividend paid on December 15, 2025. This reflects routine compensation and reinvestment activity rather than an open-market trade.

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
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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^*

LONG DONALD J JR

(Last) (First) (Middle)

C/O NICOLET NATIONAL BANK

111 NORTH WASHINGTON STREET

(Street)

GREEN BAY WI 54301

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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

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

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

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	01/20/2026		A		15.367(1)	A	$131.43	5,598.625(2)	I	By Nicolet National Bank Deferred Compensation Plan For Non-employee Directors
Common Stock								80,684	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. Mr. Long acquired 15.367 shares in the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors by deferring his fourth quarter 2025 earned board fees.

2. Includes 13.565 shares received as dividend reinvestment in the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors from Nicolet Bankshares, Inc. paid cash dividend on December 15, 2025.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Donald Long, Jr.	01/21/2026
	** 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.
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FAQ

What insider activity did NIC director Donald J. Long Jr. report?

Donald J. Long Jr., a director of Nicolet Bankshares Inc. (NIC), reported an indirect acquisition of 15.367 shares of common stock on January 20, 2026 through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

At what price were the newly acquired Nicolet Bankshares (NIC) shares recorded?

The 15.367 common shares acquired through the deferred compensation plan were recorded at a price of $131.43 per share.

How many Nicolet Bankshares (NIC) shares does Donald J. Long Jr. indirectly hold after this Form 4 transaction?

After the reported transaction, the deferred compensation plan associated with director Donald J. Long Jr. held 5,598.625 shares of Nicolet Bankshares common stock indirectly on his behalf.

How many Nicolet Bankshares (NIC) shares does Donald J. Long Jr. hold directly?

The filing shows that Donald J. Long Jr. held 80,684 common shares of Nicolet Bankshares Inc. directly following the reported transactions.

What is the source of the additional indirect shares reported for NIC?

Footnotes state that the indirect holdings include 13.565 shares received through dividend reinvestment in the deferred compensation plan from a cash dividend paid on December 15, 2025 by Nicolet Bankshares Inc.

Was the NIC insider transaction an open-market stock purchase or part of compensation?

The reported 15.367-share acquisition was part of deferred board fees into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors, rather than an open-market purchase.