DANIELS MICHAEL E 4

What Happened

• Michael E. Daniels, Chairman, President & CEO (and director) of Nicolet Bankshares (NIC), was awarded 12,125 restricted shares on January 20, 2026.
• The award is recorded at $131.43 per share for a total value of $1,593,589 (transaction code "A" = award/acquisition). This is an equity award (compensation), not an open-market purchase or sale.

Key Details

• Transaction date & price: January 20, 2026 at $131.43 per share; total value $1,593,589.
• Vesting: Shares are restricted and will vest annually in five equal installments beginning January 20, 2027, fully vesting January 20, 2031 (Footnote F1).
• ESPP holdings: Footnote F2 notes an additional 22 shares purchased under the Employee Stock Purchase Plan since the last Form 4; Mr. Daniels holds 1,061 shares in the ESPP as of this report.
• Shares owned after transaction: The filing reports the ESPP balance above; the Form 4 excerpt provided does not state Mr. Daniels' total beneficial ownership following the award.
• Timeliness: Report filed January 21, 2026 (one day after the award); this appears timely under standard 2-business-day reporting rules.

Context

• These are restricted stock awards tied to future vesting dates, so they are not immediately sellable and represent compensation/retention rather than an outright market purchase.
• Awards can signal alignment of executive and shareholder interests over the vesting period, but they are a routine form of executive compensation and do not by themselves indicate a near-term trading decision.