Transaction Details

Footnotes

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. | These shares represent an award of restricted common stock of Issuer awarded under the National Bank Holdings Corporation 2023 Omnibus Incentive Plan that will vest on the day before the Issuer's 2026 Annual Meeting of Shareholders. | This transaction represents a grant of restricted stock by the Issuer. Therefore, no consideration other than the value of services rendered was paid. | Includes 978 shares of restricted common stock.