His name was Budd Dwyer. He was a Pennsylvania State treasurer who was tried and found guilty of racketeering, bribery, fraud, and conspiracy. These were charges he vehemently denied to the very end.  On January 22, 1987, he called a press conference where he pulled out a gun, and committed suicide in full view of everyone including news media. He died instantly as cameras rolled and people in the room screamed. At least one TV station ran the footage on their local news.

Filter took a lot of heat from people who felt this song was glorifying suicide. In response, the band released this statement: "The song 'Hey Man Nice Shot' is a reaction to a well-documented public suicide. It is not a celebration or glorification of taking one's own life. The phrase 'hey man, nice shot' is a reference to the final act itself, an expression of guts and determination of a person standing up for what they believe is right. We are extremely sensitive and respectful to the family and friends of Mr. Dwyer. We have both lost friends to suicide and felt nothing but sympathy and loss for the victims, and those involved in such a tragedy."

There is a documentary about Budd Dwyer it is called An Honest Man