Robert B. Atwell - 09 Jun 2025 Form 4 Insider Report for NICOLET BANKSHARES INC (NIC)

Role: Director
Signature: /s/ H. Phillip Moore, Jr., as attorney-in-fact for Robert B. Atwell
Issuer symbol: NIC
Transactions as of: 09 Jun 2025
Net transactions value: -$699,999
Form type: 4
Filing time: 10 Jun 2025, 12:26:02 UTC
Previous filing: 03 Jun 2025
Next filing: 17 Jul 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
ATWELL ROBERT BRUCE	Director	C/O NICOLET NATIONAL BANK, 111 NORTH WASHINGTON STREET, GREEN BAY	/s/ H. Phillip Moore, Jr., as attorney-in-fact for Robert B. Atwell	10 Jun 2025	0001253903

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NIC	Common Stock	Options Exercise	$488,500	+10,000	+29%	$48.85	44,220	09 Jun 2025	Direct
transaction	NIC	Common Stock	Tax liability	$818,693	-6,874	-16%	$119.10	37,346	09 Jun 2025	Direct
transaction	NIC	Common Stock	Sale	$369,806	-3,126	-8.4%	$118.30	34,220	09 Jun 2025	Direct	F1
holding	NIC	Common Stock						340	09 Jun 2025	by Nicolet National Bank Deferred Compensation Plan For Non-employee Directors

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	-10,000	-22%	$0.000000	35,000	09 Jun 2025	Common Stock	10,000	$48.85	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.00 to $118.91, inclusive. Mr. Atwell undertakes to provide to Nicolet Bankshares, Inc., any security holder of Nicolet Bankshares, Inc., or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares at each separate price within the range set forth in footnote (1) to this Form 4.
F2	The nonqualified options fully vested as of May 16, 2022. The non-qualified options are exercisable as to 35,000 shares as of the date of this report.

Content

The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $118.00 to $118.91, inclusive. Mr. Atwell undertakes to provide to Nicolet Bankshares, Inc., any security holder of Nicolet Bankshares, Inc., or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares at each separate price within the range set forth in footnote (1) to this Form 4.

The nonqualified options fully vested as of May 16, 2022. The non-qualified options are exercisable as to 35,000 shares as of the date of this report.