SEC Filing Analysis: NICOLET BANKSHARES INC (NIC)

Executive Summary

• Trading Significance: Low
• Key Takeaway: A director acquired a small number of shares as compensation by deferring board fees, a routine and non-indicative transaction.
• Market Impact: Neutral. The transaction is too small to have any market impact.

Company Information

Field	Value
Company	NICOLET BANKSHARES INC
Ticker Symbol	NIC
CIK	0001174850
Industry	NATIONAL COMMERCIAL BANKS

Insider Information

Field	Value
Name	LONG DONALD J JR
CIK	0001243725
Title/Position	null
Relationship	Director

Transaction Details

Field	Value
Form Type	4
Transaction Date	2025-10-21
Transaction Code	A (Award)
Security Type	Common Stock
Shares Involved	74.069
Price Per Share	$129.40
Total Value	$9,580.50
Shares Owned After	86253.693
Ownership Type	Indirect

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$9,580.50
% of Market Cap	0.0005%
Shares Transacted	74.069
% of Shares Outstanding	0.0005%
Post-Transaction Ownership	86,253.693 shares (0.58% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The transaction value of ~$9.6K is negligible compared to the company's $1.75 billion market capitalization.
• Ownership Concentration: The director's total ownership remains modest at approximately 0.58% of shares outstanding.
• Transaction Significance: The acquisition is part of a deferred compensation plan, not an open-market purchase, and its size is immaterial relative to both market cap and shares outstanding, indicating low significance.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: This is a routine compensation-related transaction with a value that is insignificant to the company's market size.

Volume & Sentiment

• Expected Volume Impact: None. The transaction is not an open-market trade and is too small to influence trading volume.
• Sentiment Indicator: Neutral. The filing does not signal any change in insider sentiment.

Additional Context

Transaction Notes

• Special Circumstances: The shares were acquired by deferring earned board fees into the company's Deferred Compensation Plan for Non-employee Directors, as noted in the filing's footnotes.