[Form 4] NICOLET BANKSHARES INC Insider Trading Activity

Rhea-AI Filing Summary

Nicolet Bankshares Inc. (NIC) executive officer William M. Bohn reported a routine change in his ownership of company stock. On 11/19/2025, 136 shares of common stock were withheld and disposed of at a price of $120.04 per share to satisfy the tax obligations related to vested restricted stock. After this tax withholding, he beneficially owned 11,443 shares of common stock in direct ownership.

The filing also notes that his holdings include shares acquired through the Employee Stock Purchase Plan. Since his prior report dated April 17, 2025, he acquired 45 additional shares under the plan, bringing his total Employee Stock Purchase Plan holdings to 94 shares as of the date of this report.

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^*

BOHN WILLIAM M

(Last) (First) (Middle)

C/O NICOLET NATIONAL BANK

(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 Wealth Mgmt - Nicolet 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		136(1)	D	$120.04	11,443(2)	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. Shares withheld to satisfy tax obligation of vested restricted stock.

2. Includes 45 shares acquired under the Employee Stock Purchase Plan since Mr. Bohn's last Form 4 filing dated April 17, 2025. Mr. Bohn owns a total of 94 shares in the Employee Stock Purchase Plan as of the date of this report.

	/s/ H. Phillip Moore, Jr., as attorney-in-fact for William M. Bohn	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 activity did Nicolet Bankshares (NIC) report for William M. Bohn?

The report shows that 136 shares of Nicolet Bankshares common stock were withheld and disposed of on 11/19/2025 to cover tax obligations from vested restricted stock.

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

The 136 shares of common stock were withheld and disposed of at a price of $120.04 per share in connection with the tax obligation.

How many Nicolet Bankshares (NIC) shares does William M. Bohn own after the reported transaction?

Following the reported transaction, William M. Bohn beneficially owned 11,443 shares of Nicolet Bankshares common stock in direct ownership.

What role does William M. Bohn hold at Nicolet Bankshares (NIC)?

William M. Bohn is an officer of Nicolet Bankshares, serving as EVP Wealth Mgmt - Nicolet Bank.

Does the Form 4 mention the Employee Stock Purchase Plan for Nicolet Bankshares (NIC)?

Yes. The filing states that the reported total includes 45 shares acquired under the Employee Stock Purchase Plan since his last filing, and that he owns 94 shares in the plan as of the date of the report.

Was the Nicolet Bankshares (NIC) Form 4 filed for one or multiple reporting persons?

The Form 4 was filed by one reporting person, William M. Bohn.