[Form 4] NICOLET BANKSHARES INC Insider Trading Activity

Nicolet Bankshares Chairman, President & CEO Michael E. Daniels reported a new equity award in the form of restricted common stock.

Rhea-AI Filing Summary

Nicolet Bankshares Chairman, President & CEO Michael E. Daniels reported a new equity award in the form of restricted common stock. On January 20, 2026, he was awarded 12,125 shares of common stock at a price of $131.43 per share, increasing his directly held stake to 122,757 common shares after the transaction. In addition, he beneficially owns 6,252 shares through a 401(k) plan and 9,803 shares through his spouse.

The restricted shares granted on January 20, 2026 will vest annually on January 20 in five equal installments starting January 20, 2027 and will fully vest on January 20, 2031. The filing also notes that Daniels owns 1,061 shares in the Employee Stock Purchase Plan as of the date of this report, including 22 shares acquired since his prior Form 4 filed November 24, 2025.

Insider Trade Summary

Grant/Award: 12,125 shares

Grant/Award 3 txns

Insider DANIELS MICHAEL E

Role Chairman, President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	12,125	$131.43	$1.59M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 122,757 shares (Direct); Common Stock — 6,252 shares (Indirect, By 401(k) Plan); Common Stock — 9,803 shares (Indirect, By Spouse)

Footnotes (2)

1. F1. Restricted shares awarded January 20, 2026. Awarded shares will vest annually on January 20th of each year, in five equal installments beginning January 20, 2027, and will fully vest on January 20, 2031.
2. F2. Includes an additional 22 shares acquired under the Employee Stock Purchase Plan since Mr. Daniels last Form 4 filing dated November 24, 2025. Mr. Daniels owns a total of 1,061 shares in the Employee Stock Purchase Plan as of the date of this report.

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Accepted by SEC EDGAR 01/21/2026 - 01:44 PM EST Learn about SEC filing dates

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^*

DANIELS MICHAEL E

(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
X	Officer (give title below)		Other (specify below)
	Chairman, President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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	01/20/2026		A		12,125(1)	A	$131.43	122,757(2)	D
Common Stock								6,252	I	By 401(k) Plan
Common Stock								9,803	I	By Spouse

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. Restricted shares awarded January 20, 2026. Awarded shares will vest annually on January 20th of each year, in five equal installments beginning January 20, 2027, and will fully vest on January 20, 2031.

2. Includes an additional 22 shares acquired under the Employee Stock Purchase Plan since Mr. Daniels last Form 4 filing dated November 24, 2025. Mr. Daniels owns a total of 1,061 shares in the Employee Stock Purchase Plan as of the date of this report.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Michael E. Daniels	01/21/2026
	** 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.