Funk Charles N 4

What Happened

• Charles N. Funk, a director of MidWestOne Financial Group, reported a disposition of 137,217.153 shares of MOFG on Feb 13, 2026. The filing lists the price as N/A because the shares were canceled and converted as part of MidWestOne's merger into Nicolet Bankshares, Inc. Under the merger exchange ratio (0.3175 NIC shares per MOFG share), the MOFG shares convert to approximately 43,565 NIC shares. The filing also notes certain RSU awards were vested and converted per the merger terms.

Key Details

• Transaction date: 2026-02-13 (Effective Time of the merger)
• Transaction type/code: Disposition to issuer (D) — 137,217.153 MOFG shares; price shown as N/A
• Exchange ratio: 0.3175 NIC shares per MOFG share → ~43,565 NIC shares received (approx.)
• Additional note: Reporting person moved 7,742.153 MOFG shares from his 401(k) to a joint taxable brokerage account prior to the conversion; those shares had grown by 148.836 shares from dividend reinvestment (per footnote).
• RSUs: Outstanding MOFG RSU awards were fully vested, canceled and converted into NIC shares per the merger terms (less withholding, as applicable).
• Filing: Reported on SEC accession 0001430014-26-000001 (file date 2026-02-17).

Context

• This was not an open-market sale but a corporate-action disposition: MOFG common stock was canceled at the Effective Time of the merger and converted into NIC stock under the Merger Agreement. Such conversions are routine outcomes of M&A transactions and reflect the deal terms rather than an insider-initiated market sale.