Bellows Clive 4

What Happened
Clive Bellows, Co‑President — Asset Servicing at Northern Trust (NTRS), sold 2,800 shares on April 24, 2026 at $165.02 per share, resulting in gross proceeds of $462,056. The Form 4 lists the transaction as an "Open market or private sale" (code S). This was a sale (not a purchase), which is often routine and does not by itself indicate a change in view on the company.

Key Details

• Transaction date and price: 2026-04-24 — 2,800 shares at $165.02 each.
• Total value: $462,056 (gross proceeds).
• Shares owned after transaction: not specified in the provided summary; the filing notes beneficial ownership includes 28,060 stock units payable 1‑for‑1 in common stock (see footnote).
• Footnote: F1 — "Includes 28,060 stock units payable automatically on a 1‑for‑1 basis in shares of the Corporation's common stock."
• Filing/Timeliness: Form filed Apr 28, 2026 reporting the Apr 24 transaction; no late‑filing indication provided in the summary.

Context
Sales by executives can be for many reasons (diversification, personal liquidity, tax planning) and are common; they are generally less informative than insider purchases when assessing insider sentiment. This transaction is a straightforward sale of existing shares; no options exercise, award, or gift was reported in this filing.