Schrum Michael 4

What Happened

• Michael Schrum, Chief Financial Officer of Bank of N.T. Butterfield & Son Ltd (NTB), was granted two awards on 2026-05-27 totaling 3,533 restricted stock units (2,155 and 1,378 RSUs). No purchase price applies — these are derivative awards that convert to common shares if and when they vest.

Key Details

• Transaction date: 2026-05-27 (two award entries: 2,155 RSUs and 1,378 RSUs).
• Price/Value: N/A for awards (no open-market purchase or sale).
• Shares owned after transaction: not disclosed in the filing.
• Notable footnotes from the filing:
  • Each RSU represents a contingent right to receive one common share upon vesting.
  • Some awards are PSUs (performance stock units) with vesting on anniversaries (noted vest dates include 12‑Feb‑2027, 10‑Feb‑2028, 9‑Feb‑2029 and others listed in the filing).
  • The RSUs do not expire; they either vest/settle or are forfeited before vesting.
  • Vesting is subject to continued service through each vesting date (specific dates include 9‑Aug‑2027, 12‑Feb‑2027, 10‑Feb‑2028, 9‑Feb‑2030 as noted).
• Filing timeliness: the report covers the period 2026-05-27 and was filed 2026-05-29; the filing does not indicate a late-report footnote.

Context

• RSUs and PSUs are compensation awards, not open-market purchases or sales; they become shares only if vesting and any performance conditions are met. Such grants are routine executive compensation and do not by themselves signal the insider’s intent to buy or sell stock.