[Form 4] NICOLET BANKSHARES INC Insider Trading Activity

Rhea-AI Filing Summary

Nicolet Bankshares (NIC) executive reports routine share withholding for taxes. EVP and Chief Credit Officer Brad V. Hutjens reported that on 11/20/2025, 67 shares of common stock were withheld at a price of $120.2 per share to satisfy tax obligations on vested restricted stock. Following this transaction, he beneficially owns 29,415 shares of Nicolet Bankshares common stock directly, plus 1,818 shares held through a 401(k) plan. The report also notes that he owns 826 shares through the Employee Stock Purchase Plan as of the report date.

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^*

Hutjens Brad Vincent

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP - CCO - Nicolet Natl Bank

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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	11/20/2025		F		67(1)	D	$120.2	29,415(2)	D
Common Stock								1,818	I	By 401(k) Plan

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. Shares withheld to satisfy tax obligation of vested restricted stock.

2. Includes shares acquired under the Employee Stock Purchase Plan. Mr. Hutjens has not acquired additional shares under the Employee Stock Purchase Plan since his last Form 4 filing on November 20, 2025. Mr. Hutjens owns a total of 826 shares in the Employee Stock Purchase Plan as of the date of this report.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Brad V. Hutjens	11/24/2025
	** 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.

FAQ

What insider transaction did NIC executive Brad Hutjens report?

Brad V. Hutjens, EVP and Chief Credit Officer of Nicolet Bankshares (NIC), reported a transaction on 11/20/2025 in which 67 shares of common stock were withheld to cover tax obligations on vested restricted stock.

At what price were the NIC shares withheld for taxes in this Form 4?

The 67 shares of Nicolet Bankshares common stock were withheld at a price of $120.2 per share to satisfy tax obligations related to vested restricted stock.

How many Nicolet Bankshares (NIC) shares does Brad Hutjens own after the reported transaction?

After the reported transaction, Brad V. Hutjens beneficially owns 29,415 shares of NIC common stock directly and 1,818 shares indirectly through a 401(k) plan.

What is the nature of the indirect ownership reported for NIC in this filing?

The filing shows 1,818 shares of Nicolet Bankshares common stock held indirectly by Brad V. Hutjens through a 401(k) plan.

How many NIC shares does Brad Hutjens hold under the Employee Stock Purchase Plan?

The report states that Brad V. Hutjens owns 826 shares of Nicolet Bankshares common stock under the Employee Stock Purchase Plan as of the date of the report.

What does the transaction code 'F' mean in this NIC Form 4?

The transaction code "F" indicates that the 67 shares of Nicolet Bankshares stock were withheld to satisfy tax obligations on vested restricted stock, rather than being bought or sold on the open market.

What is Brad Hutjens' role at Nicolet Bankshares (NIC)?

Brad V. Hutjens is reported as an officer of Nicolet Bankshares, serving as EVP - CCO - Nicolet Natl Bank, which denotes Executive Vice President and Chief Credit Officer.