Nicolet Bankshares Approves $13 Million Performance-Based Equity Awards for Executive Team

Reuters01-27
Nicolet Bankshares Approves $13 Million Performance-Based Equity Awards for Executive Team

Nicolet Bankshares Inc. has announced new equity awards for its executive and senior management teams in connection with the anticipated merger with MidWestOne Financial Group, Inc. The awards total 101,000 restricted stock units, with a grant date value of $13 million, to be recognized over a three-year vesting period from 2026 through 2028. Michael E. Daniels will receive 20,000 restricted stock units, while H. Phillip Moore, Jr., Eric J. Witczak, Brad V. Hutjens, and William M. Bohn will each receive 10,000 units. Vesting of these awards is contingent on the completion of the merger, as well as meeting specified performance metrics, including peer bank Return on Average Assets and cumulative earnings per share targets by December 31, 2028.

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