[Form 4] NICOLET BANKSHARES INC Insider Trading Activity

Rhea-AI Filing Summary

Nicolet Bankshares Inc. executive reports share withholding for taxes

EVP and Chief Credit Officer Brad V. Hutjens of Nicolet National Bank, a subsidiary of Nicolet Bankshares Inc. (NIC), reported a Form 4 transaction dated 11/19/2025. A total of 205 shares of common stock were withheld at a price of $120.04 per share to cover tax obligations on vested restricted stock. After this transaction, he directly beneficially owns 29,482 shares of common stock and indirectly owns 1,818 shares through a 401(k) plan.

The report notes that his holdings include 94 additional shares acquired under the Employee Stock Purchase Plan since his prior filing, and he owns a total of 826 shares in that 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
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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^*

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)
11/19/2025

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	11/19/2025		F		205(1)	D	$120.04	29,482(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 94 additional shares acquired under the Employee Stock Purchase Plan since Mr. Hutjens last Form 4 filing on November 27, 2024. 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	11/20/2025
	** 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 Nicolet Bankshares (NIC) report for Brad V. Hutjens?

The filing reports that EVP and Chief Credit Officer Brad V. Hutjens had 205 shares of Nicolet Bankshares common stock withheld on 11/19/2025 to satisfy tax obligations related to vested restricted stock.

At what price were the Nicolet Bankshares (NIC) shares withheld for taxes?

The 205 withheld shares of Nicolet Bankshares common stock were valued at a price of $120.04 per share for tax withholding purposes.

How many Nicolet Bankshares (NIC) shares does Brad V. Hutjens own after this transaction?

Following the reported transaction, Brad V. Hutjens beneficially owns 29,482 shares of Nicolet Bankshares common stock directly and 1,818 shares indirectly through a 401(k) plan.

What role does Brad V. Hutjens hold at Nicolet Bankshares’ banking subsidiary?

Brad V. Hutjens is reported as an Officer, serving as EVP - CCO - Nicolet Natl Bank, indicating he is Executive Vice President and Chief Credit Officer of Nicolet National Bank.

How many Nicolet Bankshares (NIC) shares does Hutjens hold through the Employee Stock Purchase Plan?

The filing states that Hutjens’ holdings include 94 additional shares acquired under the Employee Stock Purchase Plan since his last filing, and he owns a total of 826 shares in the plan as of the report date.

Is this Nicolet Bankshares (NIC) Form 4 filed by one or multiple reporting persons?

The report is indicated as a Form filed by One Reporting Person, covering only the holdings and transactions of Brad V. Hutjens.