Saunders Richard 4

What Happened
Richard Saunders, a Managing Director at Bank of N.T. Butterfield & Son Ltd (NTB), received two awards of restricted stock units (derivative grants) on 2026-05-27: 52 RSUs and 330 RSUs, a total of 382 units. No cash was exchanged at grant and no per-share price is reported (transaction code A; derivative holdings noted as N/A). These units represent contingent rights to receive shares if and when they vest.

Key Details

• Transaction date: 2026-05-27; Form 4 filed 2026-05-29 (filed timely).
• Grants: 52 RSUs and 330 RSUs (total 382 units); price: N/A (award).
• Nature of award: RSUs/PSUs (derivative awards that convert to common stock upon vesting).
• Vesting schedule (per filing footnotes): vest dates listed as 12-Feb-2027, 10-Feb-2028 and 9-Feb-2029; PSUs vest on the third anniversary of each grant date.
• Expiration/forfeiture: units do not expire; they either vest and settle or are forfeited prior to vesting.
• Shares owned after transaction: not specified in the filing.
• Transaction code: A = Award/Grant; this is compensation, not an open-market buy or sale.

Context
RSUs/PSUs are common long-term compensation that convert to shares if service or performance conditions are met; they are not immediate purchases or sales and do not reflect an immediate cash inflow or outflow. This filing documents the grant itself rather than any subsequent sale or receipt of shares upon vesting.