SEC Filing Analysis: NICOLET BANKSHARES INC (NIC)

Executive Summary

• Trading Significance: Low
• Key Takeaway: A director made a routine, non-discretionary acquisition of a very small number of shares by deferring board fees into a compensation plan.
• Market Impact: The transaction is negligible in size and has no market impact.

Company Information

Field	Value
Company	NICOLET BANKSHARES INC
Ticker Symbol	NIC
CIK	0001174850
Industry	National Commercial Banks

Insider Information

Field	Value
Name	Ghidorzi Christopher J.
CIK	0001487072
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	17.543
Price Per Share	$129.40
Total Value	$2,270.06
Shares Owned After	11,711.427 (Direct & Indirect)
Ownership Type	Indirect

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$2,270.06
% of Market Cap	<0.01%
Shares Transacted	17.543
% of Shares Outstanding	<0.01%
Post-Transaction Ownership	11,711.427 shares (0.079% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The transaction value of approximately $2,300 is immaterial against the company's $1.75 billion market capitalization.
• Ownership Concentration: The director's total ownership remains very low at less than 0.1% of total shares outstanding.
• Transaction Significance: This transaction is considered routine and non-indicative of a change in insider sentiment due to its small size and nature as part of a deferred compensation plan.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The transaction is too small to have any impact on the stock price. It is a non-discretionary acquisition related to director compensation.

Volume & Sentiment

• Expected Volume Impact: None.
• Sentiment Indicator: Neutral. The filing provides no new information to influence market sentiment.

Additional Context

Transaction Notes

• Special Circumstances: Per footnote 1, the shares were acquired in a deferred compensation plan by deferring a portion of the director's third-quarter board fees. This is a common and automatic type of transaction.