NTB (Bank of N.T. Butterfield) CEO Michael W. Collins Receives Award

What Happened

• Michael W. Collins, CEO of Bank of N.T. Butterfield & Son Ltd (NTB), was granted two equity awards on 2026-08-26: 2,700 and 2,336 restricted stock units (RSUs), for a total of 5,036 RSUs. The filing classifies these as derivative awards (transaction code A — award/grant). No per-share or total dollar price is reported (N/A) because these are time- and service-based equity grants, not open-market purchases or sales.

Key Details

• Transaction date: 2026-08-26; Form 4 filed: 2026-08-27 (timely; within the Form 4 filing window).
• Award amounts: 2,700 RSUs and 2,336 RSUs (total 5,036 RSUs). Price: N/A (awards).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes of note:
  • F1: Each RSU equals a contingent right to one common share upon vesting/settlement.
  • F2: The RSUs vest on multiple dates subject to continued service (dates spanning 2027–2033).
  • F3: These RSUs do not expire; they either vest/settle or are forfeited before vesting.
  • F4: Performance stock units (PSUs) portion will vest on the third anniversary of grant dates listed (e.g., 12‑Feb‑2027, 10‑Feb‑2028).
• No tax-withholding or 10b5-1 plan information is reported in the provided notes.

Context

• These grants are compensation awards (commonly used for retention and performance incentives) and are considered derivative until they vest and convert into actual shares. Such awards are routine for executives and do not necessarily signal a personal purchase or sale decision.