SEC Filing Analysis: NICOLET BANKSHARES INC (NIC)

Executive Summary

• Trading Significance: Low
• Key Takeaway: A director acquired a nominal amount of stock through a deferred compensation plan, a routine transaction with no market significance.
• Market Impact: Negligible, given the transaction's small size and non-discretionary nature.

Company Information

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

Insider Information

Field	Value
Name	ATWELL ROBERT BRUCE
CIK	0001253903
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	15.593
Price Per Share	$129.40
Total Value	$2,017.77
Shares Owned After	34,757.886
Ownership Type	Indirect & Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$2,017.77
% of Market Cap	<0.001%
Shares Transacted	15.593
% of Shares Outstanding	<0.001%
Post-Transaction Ownership	34,758 shares (0.23% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The transaction value is insignificant against the company's $1.75 billion market capitalization.
• Transaction Significance: The acquisition is immaterial, representing a negligible fraction of both market cap and shares outstanding. It does not meaningfully change the director's ownership stake.

Additional Context

Special Circumstances

• According to the filing's footnotes, the shares were acquired in a deferred compensation plan for non-employee directors by deferring board fees. This is not an open-market purchase and carries little informational value.