<SEC-DOCUMENT>0001415889-24-026657.txt : 20241112
<SEC-HEADER>0001415889-24-026657.hdr.sgml : 20241112
<ACCEPTANCE-DATETIME>20241112203747
ACCESSION NUMBER:		0001415889-24-026657
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20241108
FILED AS OF DATE:		20241112
DATE AS OF CHANGE:		20241112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Kramer Valerie D.
		CENTRAL INDEX KEY:			0002020566
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35654
		FILM NUMBER:		241450796

	MAIL ADDRESS:	
		STREET 1:		7800 EAST ORCHARD ROAD
		STREET 2:		SUITE 300
		CITY:			GREENWOOD VILLAGE
		STATE:			CO
		ZIP:			80111

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			National Bank Holdings Corp
		CENTRAL INDEX KEY:			0001475841
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				270563799
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		7800 EAST ORCHARD ROAD
		STREET 2:		SUITE 300
		CITY:			GREENWOOD VILLAGE
		STATE:			CO
		ZIP:			80111
		BUSINESS PHONE:		303-892-8715

	MAIL ADDRESS:	
		STREET 1:		7800 EAST ORCHARD ROAD
		STREET 2:		SUITE 300
		CITY:			GREENWOOD VILLAGE
		STATE:			CO
		ZIP:			80111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NBH Holdings Corp.
		DATE OF NAME CHANGE:	20091030
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-11-08</periodOfReport>

    <issuer>
        <issuerCik>0001475841</issuerCik>
        <issuerName>National Bank Holdings Corp</issuerName>
        <issuerTradingSymbol>NBHC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002020566</rptOwnerCik>
            <rptOwnerName>Kramer Valerie D.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7800 EAST ORCHARD ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>GREENWOOD VILLAGE</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chief Digital Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
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                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2024-11-08</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                    <value>678</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>32.65</value>
                </transactionPricePerShare>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
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                <transactionPricePerShare>
                    <value>34.90</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11927</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
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                </natureOfOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
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            <transactionDate>
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            <transactionCoding>
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                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                </transactionShares>
                <transactionPricePerShare>
                    <value>49.62</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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            <transactionDate>
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            </transactionDate>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                <transactionPricePerShare>
                    <value>50.11</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.65</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-11-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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                    <value>678</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2028-03-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>678</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                    <value>0</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
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                <natureOfOwnership>
                    <value></value>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>34.90</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-11-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>597</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2028-11-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>597</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 532 shares acquired under the National Bank Holdings Corporation Employee Stock Purchase Plan on August 30, 2024.</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions in prices ranging from $49.62 to $49.64, inclusive. The reporting person undertakes to provide to National Bank Holdings Corporation, any securityholder of National Bank Holdings Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote 2 to this Form 4.</footnote>
        <footnote id="F3">Time-vested stock option award. Award vested in three equal annual installments, the first of which occurred on April 28, 2019.</footnote>
        <footnote id="F4">Time-vested stock option award. Award vested in three equal annual installments, the first of which occurred on October 1, 2019.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Valerie D. Kramer</signatureName>
        <signatureDate>2024-11-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
