Nicolet Bankshares EVP reports 111-share tax withholding at $120.2

Q: What insider transaction did NIC executive Eric J. Witczak report?

Eric J. Witczak reported a Form 4 transaction on 11/20/2025 in which 111 shares of Nicolet Bankshares Inc. common stock were disposed of under transaction code F.

Q: Why were 111 shares of Nicolet Bankshares (NIC) stock disposed of?

The 111 shares were withheld to satisfy the tax obligation arising from vested restricted stock, as explained in the filing.

Q: How many Nicolet Bankshares (NIC) shares does Eric J. Witczak own after the transaction?

Following the reported transaction, Eric J. Witczak owns 28,474 shares of common stock directly and 6,783 shares indirectly through a 401(k) plan.

Q: What is Eric J. Witczak’s role at Nicolet Bankshares (NIC)?

Eric J. Witczak is an officer of Nicolet Bankshares Inc., serving as EVP & Secretary, as indicated in the Form 4.

Q: Does Eric J. Witczak hold Nicolet Bankshares (NIC) shares through employee plans?

Yes. The filing states he owns 1,065 shares through the Employee Stock Purchase Plan and also holds 6,783 shares indirectly via a 401(k) plan.

Q: Is the reported Form 4 for an open-market sale of Nicolet Bankshares (NIC) stock?

No. The transaction is coded F, indicating shares withheld to cover taxes on vested restricted stock rather than a discretionary open-market sale.

Nicolet Bankshares Inc. (NIC) executive officer and EVP & Secretary Eric J. Witczak reported a Form 4 transaction dated 11/20/2025.

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Rhea-AI Filing Summary

Nicolet Bankshares Inc. (NIC) executive officer and EVP & Secretary Eric J. Witczak reported a Form 4 transaction dated 11/20/2025. The filing shows 111 shares of common stock were disposed of at $120.2 under transaction code F, meaning shares were withheld to cover taxes on vested restricted stock.

After this tax-related withholding, Witczak beneficially owns 28,474 shares of common stock directly and 6,783 shares indirectly through a 401(k) plan. He also owns 1,065 shares through the Employee Stock Purchase Plan as of the report date.

Insider Trade Summary

Exercise Price or Tax Liability: 111 shares

Exercise Price or Tax Liability 2 txns

Insider Witczak Eric James

Role EVP & Secretary

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	111	$120.20	$13K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 28,474 shares (Direct); Common Stock — 6,783 shares (Indirect, By 401(k) Plan)

Footnotes (2)

F1. Shares withheld to satisfy tax obligation of vested restricted stock.
F2. 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 November 20, 2025. Mr. Witczak owns a total of 1,065 shares in the Employee Stock Purchase Plan as of the date of this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did NIC executive Eric J. Witczak report?

Eric J. Witczak reported a Form 4 transaction on 11/20/2025 in which 111 shares of Nicolet Bankshares Inc. common stock were disposed of under transaction code F.

Why were 111 shares of Nicolet Bankshares (NIC) stock disposed of?

The 111 shares were withheld to satisfy the tax obligation arising from vested restricted stock, as explained in the filing.

How many Nicolet Bankshares (NIC) shares does Eric J. Witczak own after the transaction?

Following the reported transaction, Eric J. Witczak owns 28,474 shares of common stock directly and 6,783 shares indirectly through a 401(k) plan.

What is Eric J. Witczak’s role at Nicolet Bankshares (NIC)?

Eric J. Witczak is an officer of Nicolet Bankshares Inc., serving as EVP & Secretary, as indicated in the Form 4.

Does Eric J. Witczak hold Nicolet Bankshares (NIC) shares through employee plans?

Yes. The filing states he owns 1,065 shares through the Employee Stock Purchase Plan and also holds 6,783 shares indirectly via a 401(k) plan.

Is the reported Form 4 for an open-market sale of Nicolet Bankshares (NIC) stock?

No. The transaction is coded F, indicating shares withheld to cover taxes on vested restricted stock rather than a discretionary open-market sale.

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Accepted by SEC EDGAR 11/24/2025 - 04:29 PM EST

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^*

Witczak Eric James

(Last)

(First)

(Middle)

C/O NICOLET NATIONAL BANK

111 NORTH WASHINGTON STREET

(Street)

GREEN BAY

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 & Secretary

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/20/2025		F		111⁽¹⁾	D	$120.2	28,474⁽²⁾	D
Common Stock								6,783	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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. Witczak has not acquired additional shares under the Employee Stock Purchase Plan since his last Form 4 filing on November 20, 2025. Mr. Witczak owns a total of 1,065 shares in the Employee Stock Purchase Plan as of the date of this report.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Eric J. Witczak	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.

Source: View Original Filing on SEC EDGAR