No actionable signal from this insider cluster. The dollar amounts are too small to indicate informed selling. Monitor next quarterly earnings for fundamental trends, but this filing does not change the outlook.
Price Chart
Executive Summary
Two insiders at Nicolet Bankshares (NIC) sold a total of $657K in open-market sales over a 7-day window, representing ~0.018% of the $3.7B market cap. The sales are trivial relative to company size and include a director's derivative exercise and tax-withholding surrender, which are non-cash events. The cluster is not informative — the dollar amount is immaterial and the sales are likely liquidity-driven.
Key Financial Metrics
Key Facts
- Total open-market sales: $657K (0.018% of $3.7B market cap)
- Director Robert Bruce Atwell exercised 7,500 derivative shares at $56.43 (non-cash), surrendered 4,838 shares for tax withholding ($827K), and sold 2,662 shares open-market for $453K
- EVP Eric James Witczak sold 1,557 shares open-market over two days for $263K
- No C-suite executives (CEO/CFO) participated in the cluster
- Sales are trivial relative to market cap — below the 0.1% proportionality threshold
Financial Impact
$657K in open-market sales, 0.018% of market cap — immaterial
Risk Factors
- Insider sales are not predictive at this magnitude — no elevated risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NIC-1785381797945 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 5d ago | 8-K | $165.73 $169.64 | ▼ −2.36% | ▼ −3.54% | $171.46 (−3.46%) |
Sep 22, 2026 4w ago | Institutional Cluster | $165.65 $164.78 | ▼ −0.53% | ▲ +0.20% | $171.46 (+3.51%) |
Jul 29, 2026 12w ago | Insider Cluster | $169.55 $170.92 | ▲ +0.81% | ▲ +0.09% | $171.46 (+1.13%) |
Apr 21, 2026 26w ago | 8-K | $142.86 $144.04 | ▲ +0.83% | ▲ +1.22% | $171.46 (+20.02%) |
US Market Status
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