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Bank of N.T. Butterfield & Son Ltd·4

May 29, 2:01 PM ET

CUMMINGS STEPHEN E 4

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NTB Director Stephen Cummings Receives 49-Share RSU Award

What Happened
Stephen E. Cummings, a director of Bank of N.T. Butterfield & Son Ltd (NTB), was granted 49 restricted stock units (RSUs) effective May 27, 2026. The filing lists this as an award/acquisition (derivative instrument); no per-share price or immediate cash value is reported because these are contingent RSUs rather than open-market shares.

Key Details

  • Transaction date: May 27, 2026; Form 4 filed May 29, 2026 (within the typical 2-business-day filing window).
  • Transaction type/code: A — Award/Grant of derivative securities (restricted stock units).
  • Shares/units granted: 49 RSUs (each RSU represents a contingent right to one share upon vesting).
  • Price/value: Not applicable/Not reported for RSU grant.
  • Shares owned after transaction: Not specified in the filing.
  • Relevant footnotes:
    • F1: Each RSU converts to one share upon vesting/settlement.
    • F2: RSUs vest starting 30 days after grant, over a two-year schedule, subject to continued service.
    • F3: RSUs do not expire; they either vest & settle or are forfeited prior to vesting.

Context: This is a non-sale compensation award, not an open-market purchase or sale. RSU grants are common director compensation and do not indicate immediate buying or selling; value is realized only if and when units vest and convert to shares.