X0306 4 2022-01-27 0001174850 NICOLET BANKSHARES INC NCBS 0001666799 Madson Patrick Joseph C/O NICOLET NATIONAL BANK 111 NORTH WASHINGTON STREET GREEN BAY WI 54301 1 SVP-Wealth Mgmt-NicoletNatBank Common Stock 2022-01-27 4 M 0 7000 48.85 A 13508 D Common Stock 2022-01-27 4 S 0 163 92.00 D 13345 D Common Stock 2022-01-28 4 S 0 4500 90.65 D 8845 D Common Stock 2022-01-28 4 S 0 2337 91.37 D 6508 D Stock Option (Right to Buy) 48.85 2022-01-27 4 M 0 7000 0 D 2027-05-16 Common Stock 7000 20000 D The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.25 to $91.23, inclusive. Mr. Madson 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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.27 to $91.47, inclusive. Mr. Madson 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 (2) to this Form 4. Includes 488 shares owned in the Employee Stock Purchase Plan. Mr. Madson has not acquired additional shares under the Employee Stock Purchase Plan since his last Form 4 filing, December 8, 2021. The nonqualified option is exercisable as to 14,600 shares. The nonqualified options vest in five annual installments of 5,400 shares annually on May 16 of each year, beginning on May 16, 2018 and fully vest on May 16, 2022. /s/ H. Phillip Moore, Jr., attorney-in-fact for Patrick Madson 2022-01-31