Bank of N.T. Butterfield (NTB) CFO Michael Schrum Receives Award

What Happened
Michael Schrum, CFO of Bank of N.T. Butterfield & Son Ltd (NTB), received two equity awards on 2026-08-26 totaling 2,783 restricted stock units (1,455 RSUs and 1,328 RSUs). The filing shows no purchase price (N/A) because these were awards/grants (transaction code A). Each unit is a contingent right to one share upon vesting; no immediate shares were sold or bought.

Key Details

• Transaction date: 2026-08-26; Form 4 filed 2026-08-27 (timely filing).
• Award details: 1,455 RSUs and 1,328 RSUs — total 2,783 units. Price: N/A (award).
• Vesting: Units vest on specified future dates (footnotes list vesting dates in 2027, 2028, 2029, 2030 and indicate some PSUs vest on the third anniversary of grant). Continued service is required for vesting.
• Expiration: Footnotes state these RSUs do not expire; they either vest/settle or are forfeited prior to vesting.
• Shares owned after transaction: not specified in the filing.
• Codes: A = Award/Grant. No sale/purchase codes here.

Context
These awards are part of executive compensation and represent future potential shares if vesting conditions are met; they are not immediate cash or open-market purchases. Such grants are routine for executives and do not by themselves indicate the insider is buying or selling stock. Because no per-share price or immediate sale occurred, there’s no direct market value reported in the filing — you’d need the stock price on the vesting/settlement date to estimate value.