ROBERT B. ATWELL - 21 Jul 2023 Form 4 Insider Report for NICOLET BANKSHARES INC (NIC)

Role: Executive Chairman, Director
Signature: /s/ H. Phillip Moore, Jr., as attorney-in-fact for Robert B. Atwell
Issuer symbol: NIC
Transactions as of: 21 Jul 2023
Transactions value $: -$245,171
Form type: 4
Filing time: 25 Jul 2023, 16:02:54 UTC
Previous filing: 27 Dec 2022
Next filing: 28 Jul 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NIC	Common Stock	Options Exercise	$1,221,250	+25,000	+48.3%	$48.85	76,783	21 Jul 2023	Direct
transaction	NIC	Common Stock	Tax liability	-$1,466,421	-18,745	-24.4%	$78.23	58,038	21 Jul 2023	Direct	F1, F2
holding	NIC	Common Stock						300	21 Jul 2023	Son's UTMA Account

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NIC	Stock Option (Right to Buy)	Options Exercise	$0	-25,000	-11.1%	$0.000000	200,000	21 Jul 2023	Common Stock	25,000	$48.85	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares withheld to cover strike and tax obligations of the non-qualified stock option exercise of 25,000 shares completed, July 21, 2023.
F2	Includes 61 shares acquired under the Employee Stock Purchase Plan since Mr. Atwell's previous Form 4 filing dated December 27, 2022. Mr. Atwell owns a total of 437 shares in the Employee Stock Purchase Plan as of the date of this report.
F3	The nonqualified options fully vested as of May 16, 2022. The non-qualified options are exercisable as to 200,000 shares as of the date of this report.