Robert B. Atwell - 05 Mar 2026 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: 05 Mar 2026
Net transactions value: -$501,888
Form type: 4
Filing time: 09 Mar 2026, 17:24:34 UTC
Previous filing: 20 Feb 2026
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	09 Mar 2026	0001253903

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NIC	Common Stock	Options Exercise		+10,000	+29%	$56.43^*	44,054	05 Mar 2026	Direct
transaction	NIC	Common Stock	Tax liability		-6,669	-15%	$151.93^*	37,385	05 Mar 2026	Direct
transaction	NIC	Common Stock	Sale	$423,714	-2,815	-7.5%	$150.52	34,570	05 Mar 2026	Direct	F1
transaction	NIC	Common Stock	Sale	$60,536	-400	-1.2%	$151.34	34,170	05 Mar 2026	Direct	F2
transaction	NIC	Common Stock	Sale	$17,638	-116	-0.34%	$152.05	34,054	05 Mar 2026	Direct
holding	NIC	Common Stock						555	05 Mar 2026	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		-10,000	-15%	$0.000000^*	57,500	05 Mar 2026	Common Stock	10,000	$56.43	Direct	F3

* 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 $149.795 to $150.920, 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 price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $150.960 to $151.790, 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 sold at each separate price within the ranges set forth in footnote (2) to this Form 4.
F3	The nonqualified options vested in five annual installments of 13,500 shares on November 1 of each year, beginning on November 1, 2018, and fully vested on November 1, 2022. The nonqualified options are currently exercisable as to 57,500.