Robert B. Atwell - Jul 27, 2023 Form 4 Insider Report for NICOLET BANKSHARES INC (NIC)

Role: Executive Chairman, Director
Signature: /s/ H. Phillip Moore, Jr., as attorney-in-fact for Robert B. Atwell
Stock symbol: NIC
Transactions as of: Jul 27, 2023
Transactions value $: -$397,202
Form type: 4
Date filed: 7/28/2023, 01:53 PM
Previous filing: Jul 25, 2023
Next filing: Aug 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NIC	Common Stock	Options Exercise	$1.22M	+25K	+43.08%	$48.85	83K	Jul 27, 2023	Direct
transaction	NIC	Common Stock	Tax liability	-$1.62M	-19.6K	-23.58%	$82.65	63.5K	Jul 27, 2023	Direct	F1, F2
holding	NIC	Common Stock						300	Jul 27, 2023	Son's UTMA Account

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)	Options Exercise	$0	-25K	-12.5%	$0.00	175K	Jul 27, 2023	Common Stock	25K	$48.85	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Shares withheld to cover strike and tax obligations of the non-qualified stock option exercise of 25,000 shares completed, July 27, 2023.
F2	Includes shares acquired under the Employee Stock Purchase Plan. Mr. Atwell has not acquired additional shares under the Employee Stock Purchase Plan since his last Form 4 filing on July 25, 2023. Mr. Atwell owns a total of 437 shares in the Employee Stock Purchase Plan as of the date of this report.
F3	The nonqualified options fully vested as of May 16, 2022. The non-qualified options are exercisable as to 175,000 shares as of the date of this report.