NIC director ownership now 403.821 indirect, 2,576 direct

Rhea-AI Filing Summary

Nicolet Bankshares (NIC) reported an insider transaction on a Form 4. Director Marcia M. Anderson acquired 3.898 shares of common stock on 10/21/2025 at $129.4 per share through the Nicolet National Bank Deferred Compensation Plan for Non‑employee Directors.

Following the transaction, her beneficial ownership included 403.821 shares held indirectly via the plan and 2,576 shares held directly. The filing notes the plan position includes 0.957 share from dividend reinvestment tied to a cash dividend paid on September 15, 2025.

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

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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^*

Anderson Marcia M

(Last) (First) (Middle)

C/O NICOLET NATIONAL BANK

111 N. 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)
10/21/2025

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	10/21/2025		A		3.898(1)	A	$129.4	403.821(2)	I	by Nicolet National Bank Deferred Compensation Plan For Non-employee Directors
Common Stock								2,576	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. Ms. Anderson acquired 3.898 shares in the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors by deferring a portion of her third quarter 2025 earned board fees.

2. Includes 0.957 share received as dividend reinvestment in the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors from Nicolet Bankshares, Inc. paid cash dividend on September 15, 2025.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Marcia M. Anderson	11/03/2025
	** 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 did Nicolet Bankshares (NIC) disclose in this Form 4?

A director, Marcia M. Anderson, reported acquiring 3.898 shares on 10/21/2025 at $129.4 per share via a deferred compensation plan.

How many shares does the reporting person own after the transaction?

Beneficial ownership included 403.821 shares indirectly through the plan and 2,576 shares directly.

What was the method of acquisition for the 3.898 shares?

Shares were acquired by deferring a portion of third quarter 2025 earned board fees into the Deferred Compensation Plan for Non-employee Directors.

Was dividend reinvestment involved?

Yes. The plan holdings include 0.957 share received via dividend reinvestment from a cash dividend paid on September 15, 2025.

Who is the reporting person and role at NIC?

The reporting person is Marcia M. Anderson, serving as a Director of Nicolet Bankshares, Inc.

Is the ownership held directly or indirectly?

Both. 403.821 shares are held indirectly via the plan, and 2,576 shares are held directly.