Pearce Jane 4

What Happened

• Jane Pearce, Managing Director, Trust at Bank of N.T. Butterfield & Son Ltd (NTB), received equity awards on May 27, 2026 consisting of 50 and 342 restricted stock units (total 392 RSUs). These are grant/award (derivative) transactions; no purchase price is reported (N/A) because the awards are compensation-based and will convert to shares only upon vesting.

Key Details

• Transaction date: 2026-05-27; reported on Form 4 filed 2026-05-29 (filed within two business days).
• Price: N/A (grant/award of RSUs — no cash purchase).
• Shares awarded: 50 RSUs and 342 RSUs (total 392 RSUs).
• Shares owned after transaction: Not specified in the Form 4.
• Footnotes (from filing):
  • Each restricted stock unit represents a contingent right to receive one share upon vesting.
  • The RSUs vest over three years in one‑third annual installments, subject to continued service, with anniversary vesting dates listed in the filing (dates shown in footnotes).
  • The restricted stock units do not expire; they either vest and settle or are forfeited prior to vesting.
  • The filing also references PSUs vesting on the third anniversary of the grant date (dates listed).
• Filing timeliness: Reported May 29, 2026 for a May 27 transaction — within the usual two-business-day Form 4 window.

Context

• These awards are compensation grants (not open‑market purchases or sales). RSUs convert to actual shares only if/when they vest, so they do not represent immediate buying pressure. For retail investors, awards are routine executive compensation and should be interpreted as long‑term retention incentives rather than an immediate vote of confidence via share purchase.