Nicolet (NIC) EVP exercises options and sells shares; filings show holdings change
Rhea-AI Filing Summary
Eric J. Witczak, EVP & Secretary of Nicolet Bankshares, Inc. (NIC), reported multiple transactions on 08/27/2025. He exercised 5,000 stock options at an exercise price of $70.50, increasing his direct holdings to 33,901 shares immediately after that exercise. On the same date he sold 3,412 shares at $139.655 and 1,588 shares at a weighted average price of $139.42 (sales ranged $139.30–$139.64), reducing his direct holdings to 28,901 shares. He reports 6,783 shares indirectly held via a 401(k) plan and 1,042 shares in the Employee Stock Purchase Plan. The filing is signed by an attorney-in-fact on 08/28/2025.
Positive
- Exercise of 5,000 options at $70.50 increased reportable ownership before sales, showing continued participation in company equity
- 10,000-share nonqualified option remains fully vested and exercisable, indicating ongoing incentive alignment
- Disclosure includes ESPP and 401(k) holdings, improving transparency about indirect ownership
Negative
- Total direct holdings decreased from 33,901 to 28,901 after sales on 08/27/2025
- Sales of 5,000 shares (3,412 and 1,588) represent insider liquidity that reduces reported direct stake
Insights
TL;DR: Insider exercised options and simultaneously sold shares; net direct holdings declined but significant vested option position remains.
The reporting shows a routine option exercise (5,000 shares at $70.50) and concurrent market disposals (total 5,000 shares sold at ~ $139.42–$139.655). The option exercise increased reported holdings temporarily to 33,901 before the sales reduced direct ownership to 28,901. The filing discloses a remaining 10,000-share nonqualified option position that is fully vested and exercisable, plus indirect holdings via a 401(k) and ESPP. From an investor-materiality perspective these are personal liquidity and compensation-related moves rather than operational signals; they do not disclose any company-level events or changes to capital structure.
TL;DR: Transactions are standard Section 16 reporting of insider exercise and sales; disclosure appears complete with explanatory footnotes.
The Form 4 provides required detail: transaction codes, prices, amounts, and explanatory notes including the weighted average sale price range and ESPP holdings. It also notes the option fully vested as of 11/18/2024 and the attorney-in-fact signature. There is no indication of noncompliance or omission in the filing text provided. This record reflects routine insider liquidity and compensation execution rather than governance or control changes.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 5,000 | $0.00 | -- |
| Exercise | Common Stock | 5,000 | $70.50 | $353K |
| Tax Withholding | Common Stock | 3,412 | $139.655 | $477K |
| Sale | Common Stock | 1,588 | $139.42 | $221K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $139.30 to $139.64, inclusive. The reporting person undertakes to provide to Nicolet Bankshares, Inc., any security holder of Nicolet Bankshares, Inc., or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4. Includes shares acquired under the Employee Stock Purchase Plan. Mr. Witczak has not acquired additional shares under the Employee Stock Purchase Plan since his last Form 4 filing on August 27, 2025. Mr. Witczak owns a total of 1,042 shares in the Employee Stock Purchase Plan as of the date of this report. The nonqualified stock option fully vested as of November 18, 2024, and is currently exercisable as to all remaining 10,000 shares.
