SEC FORM 4

SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Steinmetz John

(Last)

(First)

(Middle)

7800 EAST ORCHARD ROAD

SUITE 300

(Street)

GREENWOOD VILLAGE

80111

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
National Bank Holdings Corp [ NBHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Exec Mng Dir of Strategic Init

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/07/2026		A		442,132	A	⁽¹⁾	442,132	D
Common Stock	01/07/2026		A		95,396	A	⁽¹⁾⁽²⁾	537,528	D
Common Stock	01/07/2026		F		37,668⁽³⁾	D	$39.33	499,860	D
Common Stock	01/07/2026		A		228,668	A	⁽¹⁾	228,668	I	JDS Plus Family Limited Partnership

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Acquired pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement") dated as of September 15, 2025, by and between Issuer, Vista Bancshares, Inc., a Texas corporation ("Vista"), and Bryan Wick, solely in his capacity as the shareholders' representative. Pursuant to the Merger Agreement, at the effective time of the merger, Vista merged with and into Issuer with Issuer surviving the merger, and each share of common stock, par value $1.00 per share, of Vista ("Vista Common Stock") outstanding immediately prior to the effective time of the merger, other than certain excluded shares, was converted into the right to receive 3.1161 shares of class A common stock, par value $0.01, of Issuer ("Issuer Common Stock") per share of Vista Common Stock surrendered, $31.62 in cash for each share of Vista Common Stock surrendered and cash in lieu of fractional shares, if any.

2. Pursuant to the Merger Agreement, at the effective time of the merger, an award of 24,332 restricted shares of Vista Common Stock was assumed and converted into a restricted stock award in respect of 95,396 restricted shares of Issuer Common Stock. This restricted stock award will vest in equal quarterly installments over the three-year period following the closing, subject to Mr. Steinmetz's continued employment with NBHC or one of its affiliates through the applicable vesting date.

3. Represents shares withheld for payment of tax liability upon vesting of 95,392 restricted shares received pursuant to the Merger Agreement between Issuer and Vista Bancshares, Inc., as noted in footnote 1.

	/s/ Amy Abrams, Attorney-in-Fact	01/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Exec Mng Dir of Strategic Init Steinmetz John was granted 766,196 shares and covered exercise/tax liability with 37,668 shares (SEC Form 4)