Bank of N.T. Butterfield (NTB) Head of Marketing Receives RSU Award

What Happened
Kevin Dallas, Head of Marketing at Bank of N.T. Butterfield & Son Ltd (NTB), was granted two equity awards on August 26, 2026 totaling 363 restricted stock units (43 RSUs and 320 RSUs). The awards are recorded as derivative/award transactions (code A); no cash price is reported because these are contingent equity units rather than open-market purchases.

Key Details

• Transaction date: 2026-08-26 (Form 4 filed 2026-08-27). Filing appears timely (next business day).
• Awards: 43 RSUs and 320 RSUs, total 363 RSUs. Price: N/A (derivative award).
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes of note:
  • F1: Each restricted stock unit (RSU) converts to one share upon vesting.
  • F2/F4: Vesting occurs on specified dates (Feb 9–12 of 2027–2029 and third anniversaries for PSUs listed), subject to continued service.
  • F3: These RSUs do not expire; they will vest and settle or be forfeited prior to vesting if service conditions are not met.
• Transaction code: A = Award/Grant (derivative). Not a market purchase or sale.

Context
RSU and PSU awards are compensation grants that convert to actual shares only after vesting conditions are met (here, multiple future dates through 2029). Because these are grants rather than purchases or sales, they are part of routine compensation and do not by themselves indicate immediate buying or selling activity by the insider.