Patrick Madson - May 13, 2021 Form 4 Insider Report for NICOLET BANKSHARES INC (NIC)

Role: SVP-Wealth Mgmt-NicoletNatBank
Signature: /s/ Marc T. Lambrecht, attorney-in-fact for Patrick Madson
Stock symbol: NIC
Transactions as of: May 13, 2021
Transactions value $: $1,573,400
Form type: 4
Date filed: 6/10/2021, 11:03 AM
Next filing: Nov 15, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	NIC	Common Stock						6.87K	May 13, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NIC	Stock Option (Right to Buy)	Award	$1.57M	+20K		$78.67	20K	May 13, 2021	Common Stock	20K	$78.67	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes an additional 34 shares acquired under the Employee Stock Purchase Plan since the reporting person's last Form 4 filing on February 26, 2021. The reporting person owns a total of 443 shares in the Employee Stock Purchase Plan as of the date of this report.
F2	The nonqualified options vest in five annual installments of 4,000 shares on May 13 of each year, beginning on May 13, 2022 and will fully vest on May 13, 2026.