Lee Michael Sean 4

What Happened

• Lee Michael Sean, Head of Human Resources at Bank of N.T. Butterfield & Son Ltd (NTB), received two equity awards on May 27, 2026: 49 and 47 derivative awards (restricted/performance stock units), for a total of 96 units. The filing shows no purchase price or immediate cash value (N/A); these are awards, not open‑market purchases or sales.

Key Details

• Transaction date: 2026-05-27; Form 4 filed: 2026-05-29 (filed within the standard two‑business‑day window).
• Award type: restricted stock units (RSUs) and/or performance stock units (PSUs) — derivative awards that convert to common shares upon vesting (see footnotes).
• Shares/units granted: 49 and 47 (total 96). No dollar value or per‑share price reported.
• Shares owned after transaction: not specified in the provided filing.
• Vesting and other footnotes:
  • F1: Each RSU represents a contingent right to one share upon vesting/settlement.
  • F2: Certain RSUs vest on 12‑Feb‑2027, 10‑Feb‑2028, and 9‑Feb‑2029, subject to continued service.
  • F3: These RSUs do not expire; they either vest/settle or are forfeited before vesting.
  • F4: PSUs (if applicable) vest on the third anniversary of the grant date (noted dates: 10‑Feb‑2028, 9‑Feb‑2029).
• No indication in the filing of tax withholding, 10b5‑1 plan, or immediate sale of shares.

Context

• These grants are compensation-related equity awards. RSUs/PSUs are contingent rights that only convert into actual shares if vesting conditions (typically continued service and/or performance targets) are met; they are not immediate purchases or sales and therefore do not directly signal insider buying or selling intent.
• Because no price/value is listed, retail investors should not infer monetary exposure from this filing alone.