Director Robert Bruce Atwell of Nicolet Bankshares Inc filed a Form 4 on November 9, 2026, disclosing multiple transactions in the company's common stock on November 6, 2026, including the exercise of stock options and open-market sales.

Key Highlights

  • Option exercise: Atwell exercised 10,000 stock options at an exercise price of $56.43 per share on November 6, 2026, acquiring 10,000 shares of common stock (transaction code M).
  • Tax withholding disposition: 6,425 shares were disposed of at $173.40 per share on November 6, 2026, via transaction code F (payment of exercise price or tax liability).
  • Open-market sales: Atwell sold 3,499 shares at a weighted average price of $172.88 (ranging from $172.4350 to $173.3850) and 76 shares at a weighted average price of $173.53 (ranging from $173.5200 to $173.6650).
  • Remaining direct holdings: Following all reported transactions, Atwell directly held 34,483 shares of common stock.
  • Indirect holdings: Atwell also holds 1,070.838 shares indirectly through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors.
  • Remaining options: After the exercise, Atwell retains 20,000 stock options with an exercise price of $56.43 and an expiration date of November 1, 2027, all currently exercisable according to the filing.

Atwell's November 6 Transactions in Nicolet Bankshares Common Stock

According to the Form 4 filed with the SEC on November 9, 2026, Robert Bruce Atwell, a director of Nicolet Bankshares Inc (NASDAQ:NIC), reported a series of transactions on November 6, 2026. Atwell exercised 10,000 nonqualified stock options at $56.43 per share (transaction code M), acquiring 10,000 shares of common stock. The filing notes that these options vested in five annual installments of 13,500 shares on November 1 of each year beginning November 1, 2018, and fully vested on November 1, 2022.

On the same date, 6,425 shares were disposed of at $173.40 per share under transaction code F, which the filing records as shares disposed of for the payment of exercise price or tax liability. Additionally, Atwell sold 3,499 shares at a weighted average price of $172.88, with individual transaction prices ranging from $172.4350 to $173.3850, and sold a further 76 shares at a weighted average price of $173.53, with prices ranging from $173.5200 to $173.6650. The filing states that full information on shares sold at each separate price within those ranges is available upon request from Nicolet Bankshares, any security holder, or the SEC staff.

After all reported transactions, Atwell's direct beneficial ownership stood at 34,483 shares of common stock. He also holds 1,070.838 shares indirectly through the Nicolet National Bank Deferred Compensation Plan for Non-employee Directors. The remaining 20,000 stock options, also at an exercise price of $56.43, are currently exercisable and expire November 1, 2027, according to the filing. The form was signed by H. Phillip Moore, Jr., as attorney-in-fact for Robert B. Atwell.

What Was Disclosed

The filing disclosed an option exercise, a tax-related share disposition, and two open-market sales by director Robert Bruce Atwell in Nicolet Bankshares common stock on November 6, 2026, resulting in direct ownership of 34,483 shares and 20,000 remaining exercisable options.