Business Context and Reporting Period
Company: Nicolet Bankshares, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 18, 2014
Event: Modification of the Company's previously announced share repurchase program.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on capital allocation regarding share repurchases.
- Total Repurchase Authorization: $12 million aggregate.
- Total Share Authorization: Up to 625,000 shares.
- Recent Activity (Through Oct 31, 2014): $4.3 million utilized to repurchase 201,343 shares.
- Weighted Average Price: $21.24 per share (including commissions).
- Additional Authorization: $6 million added for up to 275,000 additional shares (6.7% of current outstanding common shares).
Material Changes
The Board of Directors approved an increase to the existing repurchase program on November 18, 2014. The program was expanded by adding $6 million in funding and authorization for 275,000 additional shares, bringing the total program size to $12 million and 625,000 shares.
Guidance, Outlook, and Risks
Management Commentary: Shares may be repurchased from time to time in the open market (including block transactions) as market conditions warrant or in private transactions.
Risks/Contingencies: The filing does not disclose specific risks or contingencies beyond the standard discretion of market conditions for repurchases.
Investor Verification Checklist
- Verify the total number of shares currently outstanding to confirm the 6.7% calculation of the additional authorization.
- Review subsequent filings to track the actual execution of the remaining $7.7 million authorization.
- Confirm if any repurchases were made between October 31, 2014, and the filing date of November 18, 2014.