LANEY G. TIMOTHY 4

What Happened

• Laney G. Timothy, CEO of National Bank Holdings Corp., had 8,006 shares withheld to cover tax liabilities related to the vesting of restricted stock awards. The shares were valued at $43.27 each for a total disposition of $346,420. This was a tax-withholding disposition (transaction code F), not an open-market sale.

Key Details

• Transaction date: 2026-04-28; Form 4 filed: 2026-04-30 (filed timely).
• Price per share: $43.27; total value of shares withheld: $346,420.
• Footnote F1: Shares were withheld to pay tax liability on portions of restricted stock awards granted 4/1/2023, 4/1/2024, and 4/1/2025.
• Footnote F2: Reporting ownership includes 431,418 shares of restricted common stock (the filing does not specify total post-withholding free shares).
• Transaction type: F = tax withholding on vested restricted stock (reported as a disposition).

Context

• Tax-withholding dispositions are routine when restricted stock vests; they reflect withholding to satisfy tax obligations and are not the same as an intentional open-market sale for cash. Such withholdings are common and do not necessarily indicate the insider’s view on the company’s prospects.