ATWELL ROBERT BRUCE 4
4 · NICOLET BANKSHARES INC · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Nicolet Bankshares (NIC) Director Robert Atwell Exercises Options, Sells Shares
What Happened Robert Bruce Atwell, a director of Nicolet Bankshares (NIC), exercised options on March 12, 2026 and immediately disposed of the resulting shares. He exercised 10,000 shares by paying $56.43 per share (cost $564,300). To cover tax and related obligations, 6,691 shares were surrendered/withheld (valued at a weighted avg $150.28, $1,005,523). An additional 3,309 shares were sold in the open market in three transactions (1,885 @ $149.49 for $281,789; 1,324 @ $150.26 for $198,944; 100 @ $150.26 for $15,026). Total proceeds from the sales/withholding were about $1,501,282.
Key Details
- Transaction date: March 12, 2026; Form 4 filed March 16, 2026 (filed 4 days after trades; Form 4s are normally due within 2 business days).
- Exercise: 10,000 shares exercised at $56.43/share (total cash paid $564,300).
- Dispositions: 6,691 shares withheld/used for tax/exercise obligations (weighted avg $150.28); 3,309 shares sold in open market across three trades (prices $149.13–$149.96 and $150.26 as noted).
- Sales proceeds (reported): $1,005,523 (withheld) + $281,789 + $198,944 + $15,026 = ~$1,501,282.
- Shares owned after transaction: not disclosed in the provided filing.
- Footnotes: (1) The weighted-average sale price covers multiple trades at $149.13–$149.96—breakdown available on request. (2) The options exercised are nonqualified options that vested over 2018–2022 and are currently exercisable as to 47,500 shares.
Context This appears to be a routine option exercise with a cashless-like result: options were exercised and the resulting shares were used to satisfy tax withholding and sold in the open market. Such transactions are commonly used to cover exercise costs/taxes and do not necessarily signal a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-12$56.43/sh+10,000$564,300→ 44,054 total - Tax Payment
Common Stock
2026-03-12$150.28/sh−6,691$1,005,523→ 37,363 total - Sale
Common Stock
[F1]2026-03-12$149.49/sh−1,885$281,789→ 35,478 total - Sale
Common Stock
2026-03-12$150.26/sh−1,324$198,944→ 34,154 total - Sale
Common Stock
2026-03-12$150.26/sh−100$15,026→ 34,054 total - Exercise/Conversion
Stock Option (Right to Buy)
[F2]2026-03-12−10,000→ 47,500 totalExercise: $56.43Exp: 2027-11-01→ Common Stock (10,000 underlying)
- 554.562(indirect: by Nicolet National Bank Deferred Compensation Plan For Non-employee Directors)
Common Stock
Footnotes (2)
- [F1]The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $149.13 to $149.96, inclusive. Mr. Atwell undertakes to provide to Nicolet Bankshares, Inc., any security holder of Nicolet Bankshares, Inc., or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.
- [F2]The nonqualified options vested in five annual installments of 13,500 shares on November 1 of each year, beginning on November 1, 2018, and fully vested on November 1, 2022. The nonqualified options are currently exercisable as to 47,500.