Neff Michael Walter 4

What Happened
Michael Walter Neff, Chief Operating Officer of Bank of N.T. Butterfield & Son Ltd (NTB), received awards of restricted stock units (derivative awards) on May 27, 2026. The filing shows two grants totaling 456 units (51 RSUs and 405 RSUs). No purchase or sale occurred—these are equity compensation awards that convert to shares only if and when they vest.

Key Details

• Transaction date: 2026-05-27 (Form filed 2026-05-29; filing appears timely within the standard 2-business-day window).
• Transaction type: A = Award/Grant (derivative securities); price shown as N/A (no cash consideration).
• Quantity: 51 RSUs and 405 RSUs, total 456 RSUs.
• Shares owned after transaction: Not reported in the provided data.
• Footnotes (summary):
  • Each restricted stock unit represents a contingent right to one share upon vesting.
  • Vesting schedule noted: 12-Feb-2027, 10-Feb-2028, and 09-Feb-2029, subject to continued service.
  • The units do not expire; they either vest/settle or are forfeited prior to vesting.
  • PSUs (performance stock units), where applicable, vest on the third anniversary of their grant dates listed.

Context
These awards are compensation-based equity grants (not open-market purchases or sales) and only become company stock if vesting conditions are met. For retail investors, such grants are routine executive compensation and do not, by themselves, indicate an immediate change in insider sentiment about the stock.