SEC Filing Analysis: NICOLET BANKSHARES INC (NIC)

Executive Summary

• Trading Significance: Low
• Key Takeaway: A director acquired a nominal number of shares by deferring board fees, a routine compensation-related event with no market significance.
• Market Impact: Neutral. The transaction is too small to have any impact on the stock.

Company Information

Field	Value
Company	NICOLET BANKSHARES INC
Ticker Symbol	NIC
CIK	0001174850
Industry	NATIONAL COMMERCIAL BANKS [6021]

Insider Information

Field	Value
Name	COLON HECTOR
CIK	0001873825
Title/Position	null
Relationship	Director

Transaction Details

Field	Value
Form Type	4
Transaction Date	2025-10-21
Transaction Code	A
Security Type	Common Stock
Shares Involved	7.797
Price Per Share	$129.40
Total Value	$1,009
Shares Owned After	4837.713
Ownership Type	Indirect

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$1,009
% of Market Cap	<0.001%
Shares Transacted	7.797
% of Shares Outstanding	<0.001%
Post-Transaction Ownership	4,837.713 shares (0.033% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The transaction value of approximately $1,009 is negligible compared to Nicolet Bankshares' $1.75 billion market capitalization.
• Ownership Concentration: The director's total holding of 4,837.713 shares represents a very small fraction (0.033%) of the total shares outstanding, indicating low ownership concentration from this insider.
• Transaction Significance: The transaction is immaterial, representing less than 0.001% of both the market cap and shares outstanding. It does not signal any change in insider sentiment.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The transaction is a routine, non-market acquisition related to director compensation. Its size is insignificant and carries no new information for the market.

Volume & Sentiment

• Expected Volume Impact: None. This is a non-market transaction and will not affect trading volume.
• Sentiment Indicator: Neutral. This filing is procedural and does not indicate a bullish or bearish stance from the insider.

Additional Context

Transaction Notes

• Special Circumstances: Per footnote 1, the shares were acquired through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors by deferring earned board fees. This is not an open-market purchase.