NIC director reports 17.543-share acquisition via board fee deferral

Rhea-AI Filing Summary

Nicolet Bankshares (NIC) director Christopher J. Ghidorzi reported acquiring 17.543 shares of common stock on 10/21/2025 at $129.4, through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors by deferring third-quarter 2025 board fees.

Following the transaction, he beneficially owned 3,360.427 shares indirectly via the plan and 8,351 shares directly. The indirect holdings include 8.001 shares received via dividend reinvestment from a cash dividend paid on September 15, 2025.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ghidorzi Christopher J.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	17.543	$129.40	$2K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 3,360.427 shares (Indirect, By Nicolet National Bank Deferred Compensation Plan For Non-employee Directors); Common Stock — 8,351 shares (Direct)

Footnotes (1)

1. Mr. Ghidorzi acquired 17.543 shares in the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors by deferring a portion of his third quarter 2025 earned board fees. Includes 8.001 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 September 15, 2025.

Form 4 Insider Transactions: What Each Field Means →

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^*

Ghidorzi Christopher J.

(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)
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		17.543(1)	A	$129.4	3,360.427(2)	I	By Nicolet National Bank Deferred Compensation Plan For Non-employee Directors
Common Stock								8,351	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. Ghidorzi acquired 17.543 shares in the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors by deferring a portion of his third quarter 2025 earned board fees.

2. Includes 8.001 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 September 15, 2025.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Christopher J. Ghidorzi	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 NIC's Form 4 disclose?

A director, Christopher J. Ghidorzi, acquired 17.543 shares on 10/21/2025 at $129.4 via the Deferred Compensation Plan for Non-employee Directors.

How many NIC shares does the reporting person hold after the transaction?

He held 3,360.427 shares indirectly via the plan and 8,351 shares directly.

What was the method of acquisition for the new shares?

Shares were acquired by deferring third-quarter 2025 board fees into the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.

What was the price per share on the transaction date?

The reported price per share was $129.4.

Did dividend reinvestment affect the reported holdings?

Yes. Indirect holdings include 8.001 shares from dividend reinvestment tied to a cash dividend paid on September 15, 2025.

What is the relationship of the reporting person to NIC?

The reporting person is a Director of Nicolet Bankshares, Inc.