FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * ATWELL ROBERT BRUCE 2. Issuer Name and Ticker or Trading Symbol NICOLET BANKSHARES INC [ NCBS ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chairman, President & CEO
(Last)         (First)         (Middle)
C/O NICOLET NATIONAL BANK, 111 NORTH WASHINGTON STREET
3. Date of Earliest Transaction (MM/DD/YYYY)
7/15/2019
(Street)
GREEN BAY, WI 54301
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  7/15/2019    G   V 398  D $0  40258  D   
Common Stock  7/31/2019    G   V 3300  D $0  36958  D   
Common Stock  11/18/2019    M    54000  A $25.90  103543 (1) D   
Common Stock  11/18/2019    F    35895  D $70.50  67648  D   
Common Stock  11/18/2019    S    18105  D $70.50  49543  D   
Common Stock  11/18/2019    A    2712  A $70.50  52255  D   
Common Stock  11/18/2019    F    425  D $70.50  51830 (2) D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy)  $25.90  11/18/2019    M        54000    (3) 1/20/2025  Common Stock  54000  $0  13500  D   
Stock Option (Right to Buy)  $70.50  11/18/2019    A     54000       (4) 11/18/2029  Common Stock  54000  $70.50  54000  D   

Explanation of Responses:
(1)  Includes 12,565 shares previously owned indirectly through the Nicolet National Bank 401(k) Plan that are now directly owned, and 20 shares acquired under the Employee Stock Purchase Plan in October 2019.
(2)  Includes a total of 124 shares acquired under the Employee Stock Purchase Plan to date.
(3)  The remaining 13,500 nonqualified options are not currently exercisable. The options vest in five annual installments of 13,500 shares annually on January 20 of each year, beginning on January 20, 2016 and fully vest on January 20, 2020.
(4)  The nonqualified options vest in five annual installments of 10,800 shares on November 18 of each year, beginning on November 18, 2020 and will fully vest on November 18, 2024.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
ATWELL ROBERT BRUCE
C/O NICOLET NATIONAL BANK
111 NORTH WASHINGTON STREET
GREEN BAY, WI 54301
X
Chairman, President & CEO

Signatures
/s/ Ann K. Lawson, as attorney-in-fact for Robert B. Atwell 11/20/2019
**Signature of Reporting Person Date
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