Bank of N.T. Butterfield MD Richard Saunders Receives Award

What Happened

• Richard Saunders, Managing Director (CIUK) of Bank of N.T. Butterfield & Son Ltd (NTB), was granted a total of 369 equity awards on 2026-08-26 (51 and 318 units). These awards are derivative restricted/performance stock units (no cash paid; price listed as N/A) that convert to common shares if and when they vest.

Key Details

• Transaction date: 2026-08-26; filing date: 2026-08-27 (timely).
• Quantity granted: 51 RSUs (one line) and 318 RSUs/PSUs (second line) — total 369 units.
• Price: N/A — these are awards/derivative grants (Form 4 code A).
• Vesting: Footnotes state RSUs vest on 10-Feb-2027, 12-Feb-2027 and 10-Feb-2028 (subject to continued service); PSUs vest on the third anniversary of their grant dates (per filing).
• Expiration/forfeiture: The units do not expire; they either vest/settle or are forfeited prior to vesting (per footnote).
• Shares owned after transaction: Not specified in the provided filing.

Context

• These are compensation awards (restricted stock units and performance stock units) that give a contingent right to receive common shares upon vesting; they are not open-market purchases or sales and do not reflect an immediate buy/sell decision.
• For retail investors, grants align insider compensation with future company performance but do not by themselves indicate near-term insider sentiment or trading activity.