Robert J. Weyers
About Robert J. Weyers
Robert J. Weyers (age 60) has served on Nicolet Bankshares, Inc.’s Board since 2000. He is Co‑Owner of Weyers Group (private equity), Commercial Horizons, Inc. (commercial property development), and PBJ Holdings, LLC (real estate), bringing real estate development experience and community connections; he is a founding board member with substantial share ownership . The Board determined he is independent under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Nicolet Bankshares, Inc. | Independent Director | Director since 2000 | Founding board member; contributes real estate development perspective and local market connectivity |
| Nicolet National Bank (subsidiary) | Director (same board) | Ongoing | Unified governance across holding company and bank to monitor enterprise-wide risk |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Weyers Group | Co‑Owner | Ongoing | Private equity investment firm |
| Commercial Horizons, Inc. | Co‑Owner | Ongoing | Commercial property development |
| PBJ Holdings, LLC | Co‑Owner | Ongoing | Real estate holding company |
No public company directorships disclosed for Mr. Weyers .
Board Governance
- Independence: The Board determined Mr. Weyers is independent; only four directors (Atwell, Daniels, Ghidorzi, Johnson) were not independent .
- Committee assignments:
- Executive Committee member
- Nominating & Governance Committee member
- Trust Committee and Wealth Management Committee member
- Asset Liability Committee (ALCO) member
- Directors Loan Committee (DLC): Each outside director serves at least one quarter per year; applies to Mr. Weyers as an outside director
- Chair roles: None disclosed for Mr. Weyers .
- Attendance: The Board met nine times in 2024; each director attended at least 75% of Board and committee meetings during their term. 14 of 15 directors attended the May 20, 2024 Annual Meeting .
- Lead Independent Director: Established effective with the 2025 Annual Meeting (Dykema named Lead Director) .
- Executive sessions: Held periodically without management, presided by Committee Chairs .
Fixed Compensation (Director)
| Year/Component | Amount | Detail |
|---|---|---|
| 2024 Fees Earned/Paid in Cash | $35,500 | Mr. Weyers elected to defer 100% of 2024 cash fees into the Directors Deferred Compensation Plan . |
| 2024 Stock Awards (annual equity retainer) | $49,974 | 626 shares granted and immediately vested at $79.83 closing price on May 28, 2024 (annual $50,000 equity retainer) . |
| 2024 Total Director Compensation | $85,474 | Sum of cash fees and stock awards . |
| 2024 Director Compensation Structure | Policy | $50,000 equity retainer, $20,000 cash retainer, $1,000 per meeting for Audit, Compensation, Executive, Nominating & Governance, Risk, ALCO, Trust; $500 per DLC meeting; Chair retainers: Audit $15k, Compensation $10k, N&G $5k (May 2024–April 2025 cycle) . |
No director options, non‑equity incentives, pension/deferral earnings, or other compensation were reported for directors in 2024 (those columns were zero and omitted) .
Performance Compensation
- No performance‑conditioned metrics tied to non‑employee director compensation were disclosed; the director equity retainer is time‑based and immediately vested as part of the annual director compensation package .
Other Directorships & Interlocks
- Public-company boards: None disclosed for Mr. Weyers .
- Notable interlocks: None disclosed; Board independence affirmed and related‑party processes governed by Audit Committee policy .
Expertise & Qualifications
- Real estate development, ownership mentality, and local market relationships; founding director with significant share ownership, contributing to entrepreneurial and community banking perspective .
- Board‑level exposure to asset/liability management (ALCO), trust/wealth oversight, and nominations/governance .
Equity Ownership
As of January 31, 2025:
| Ownership Metric | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 102,650 | Less than 1% of outstanding shares . |
| Deferred Compensation Plan shares | 9,411 | Held in Directors Deferred Compensation Plan . |
| Limited partnership holdings | 25,250 | Held in an LP where he is general partner . |
| LLC holdings | 3,500 | Held in an LLC where he is an owner . |
| Trust holdings (adult children) | 12,333 | Disclaims financial interest . |
| Director ownership guideline | 2,000 shares | Required by third anniversary; Mr. Weyers exceeds guideline . |
Insider trading policy prohibits short sales and hedging by directors and executives; blackout windows apply to designated persons .
Related-Party Transactions and Conflicts
- Loans: The bank had ordinary‑course loans to directors/executives and related interests totaling ~$113 million at year‑end 2024 (2% of loans), on market terms; no unfavorable features disclosed .
- Specific transactions: 2024 related‑party leases and construction were disclosed for other directors (Ghidorzi and Johnson), not for Mr. Weyers .
- Late Section 16 reporting: Eleven non‑employee directors in the Directors Deferred Compensation Plan filed one Form 4 late due to an administrative miscommunication during a trustee change; Mr. Weyers has a Directors Plan balance (9,411 shares) .
Governance Assessment
- Alignment: Strong “skin‑in‑the‑game” with 102,650 shares and full deferral of 2024 cash fees into stock; exceeds the 2,000‑share director guideline .
- Effectiveness: Active roles across Executive, Nominating & Governance, ALCO, and Trust/Wealth committees; attendance at least 75% across Board/committees in 2024 .
- Independence: Affirmed under NYSE rules; Board majority independent; Lead Independent Director added in 2025 .
- Controls: Insider trading policy prohibits hedging; Audit Committee oversees related party transactions and independence considerations .
- Potential red flags to monitor:
- Ordinary‑course lending to directors is typical for community banks but warrants periodic scrutiny of terms and concentrations (aggregate ~$113 million at year‑end 2024) .
- Administrative lapse led to late Form 4s for eleven directors in the Directors Plan; process improvements should be validated .
Overall, Mr. Weyers presents solid ownership alignment and independent oversight across key committees without disclosed related‑party transactions in 2024; governance enhancements (Lead Independent Director, clarified director compensation structure) support Board effectiveness for investors .