ATWELL ROBERT BRUCE 4

What Happened
Robert Bruce Atwell, a director of Nicolet Bankshares, exercised 15,000 stock options on Feb 18, 2026 (exercise price $48.85, cash paid $732,750). Following the exercise he disposed of a total of 15,000 underlying shares: 8,604 shares were withheld to cover taxes (reported as a disposition at a weighted average price of $155.17, value ≈ $1,335,083) and 6,396 shares were sold in the open market at a weighted average price of $155.47 (proceeds ≈ $994,386). The filings show the option conversion/derivative was also recorded (15,000 shares, derivative entry).

Key Details

• Transaction date: Feb 18, 2026; Form 4 filed Feb 20, 2026 (appears timely).
• Option exercise: 15,000 shares exercised at $48.85 each; total cash paid $732,750.
• Tax withholding (F): 8,604 shares withheld/disposed at a weighted avg $155.17 (≈ $1,335,083).
• Open-market sale (S): 6,396 shares sold at a weighted avg $155.47 (≈ $994,386).
• Footnote F1: the reported sale prices are weighted averages; actual sale prices ranged $154.898–$155.824 and the filer can provide a breakdown on request.
• Footnote F2: the nonqualified options were fully vested as of May 16, 2022 and are fully exercised as of this report.
• Shares owned after the transaction: not specified in the provided summary of the filing.

Context
This was an option exercise with immediate share dispositions: part of the shares were sold in the open market and part were withheld to satisfy tax withholding obligations (a common cashless-exercise/withholding outcome). The filing is informational and does not, by itself, indicate the director’s future view of the company.