Collins Michael W 4

What Happened

• Michael W. Collins, CEO of Bank of N.T. Butterfield & Son Ltd (NTB), was granted a total of 6,515 equity awards on 2026-05-27 (three separate grants: 1,520; 2,424; 2,571 units). These entries are coded as acquisitions of derivative securities (A) and show no per-share price (N/A) because they are restricted/performance stock units rather than open-market trades. The Form 4 covering the transactions was filed on 2026-05-29.

Key Details

• Transaction date: 2026-05-27; Form 4 filed: 2026-05-29 (appears timely under standard 2-business-day rule).
• Award types: restricted stock units (RSUs) and performance stock units (PSUs) — grants are contingent rights to receive shares upon vesting (derivative awards).
• Grant amounts: 1,520 RSUs; 2,424 units; 2,571 units — total 6,515 units.
• Price: N/A (no cash price because these are grants/awards).
• Vesting notes (from filing footnotes): vesting/settlement dates include 9-Aug-2026; 12-Feb-2027; 10-Feb-2028; 9-Feb-2029 (PSUs vest on the third anniversary of grant dates); and a longer-term RSU vesting date noted as 9-Feb-2033. Awards do not expire; they either vest/settle or are forfeited if service ends before vesting.
• Shares owned after transaction: not specified in the provided filing excerpt.

Context

• These awards are compensation-related (not purchases or sales) and will convert into common shares only if and when the stated vesting conditions are met. That means they are not an immediate cash or market signal like an open-market buy or sale. For retail investors, such grants are routine executive compensation and should be viewed as part of long-term incentive arrangements rather than an immediate endorsement or rejection of the stock.