NBT Bancorp director granted 1,050 share units
Kowalczyk Andrew S III reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Kowalczyk Andrew S III reported acquisition or exercise transactions in this Form 4 filing.
NBT Bancorp Inc. director Andrew S. Kowalczyk III reported a compensation-related equity grant. He received 1,050 shares of NBT Bancorp Inc. common stock at $0.00 per share as a grant or award under the company’s 2024 Omnibus Incentive Plan, in the form of restricted stock units that vest in one year. Following this grant, he directly holds 13,641.843 shares of common stock. The filing also shows phantom stock credited under the Deferred Compensation Plan, tied to 6,598.494 underlying shares of NBT Bancorp Inc. common stock, reflecting deferred, cash-settled exposure rather than additional tradable shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 1,050 shares
Grant/Award
2 txns
Insider
Kowalczyk Andrew S III
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | NBT Bancorp Inc. Common Stock | 1,050 | $0.00 | $0.00 |
| holding | Phantom Stock | -- | -- | -- |
Holdings After Transaction:
NBT Bancorp Inc. Common Stock — 13,641.843 shares (Direct);
Phantom Stock — 6,598.494 contracts (Direct)
Footnotes (2)
- F1. Acquired pursuant to the NBT Bancorp Inc. 2024 Omnibus Incentive Plan. Each outside director is entitled to receive an annual retainer for Board service in the form of restricted stock units of the Company's common stock that vest in one year.
- F2. Each share of phantom stock is deemed invested in one share of NBT Bancorp Inc. common stock pursuant to the terms of the Deferred Compensation Plan.
Key Figures
Equity grant size: 1,050 shares
Post-grant common shares held: 13,641.843 shares
Phantom stock underlying shares: 6,598.494 shares
+2 more
5 metrics
Equity grant size
1,050 shares
Restricted stock unit award at $0.00 per share
Post-grant common shares held
13,641.843 shares
Director’s direct NBT Bancorp Inc. common stock holdings after grant
Phantom stock underlying shares
6,598.494 shares
Underlying NBT Bancorp Inc. common stock equivalent in Deferred Compensation Plan
Grant price per share
$0.00 per share
Compensation-related restricted stock unit grant to outside director
Transaction code
A
Grant, award, or other acquisition classification on Form 4
Key Terms
Phantom Stock, Deferred Compensation Plan, restricted stock units, 2024 Omnibus Incentive Plan
4 terms
Phantom Stock financial
"The filing also shows phantom stock credited under the Deferred Compensation Plan"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Deferred Compensation Plan financial
"Each share of phantom stock is deemed invested in one share of NBT Bancorp Inc. common stock pursuant to the terms of the Deferred Compensation Plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
restricted stock units financial
"Each outside director is entitled to receive an annual retainer for Board service in the form of restricted stock units of the Company's common stock that vest in one year"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
2024 Omnibus Incentive Plan financial
"Acquired pursuant to the NBT Bancorp Inc. 2024 Omnibus Incentive Plan"
FAQ
What insider transaction did NBTB director Andrew S. Kowalczyk III report?
Andrew S. Kowalczyk III reported receiving a grant of 1,050 shares of NBT Bancorp Inc. common stock at $0.00 per share. The award is compensation-related, structured as restricted stock units granted under the company’s 2024 Omnibus Incentive Plan for outside directors.
What does the phantom stock position for NBTB’s director represent?
The phantom stock position represents deferred compensation linked to NBT Bancorp Inc. common stock. Each phantom stock unit is deemed invested in one share of common stock under the Deferred Compensation Plan, providing share-based economic exposure without creating additional tradable common shares for the director.
How many phantom stock units tied to NBTB stock are shown in the filing?
The filing shows phantom stock tied to 6,598.494 underlying shares of NBT Bancorp Inc. common stock. These units are part of a Deferred Compensation Plan, where each phantom stock unit is economically equivalent to one share of NBT Bancorp Inc. common stock under the plan’s terms.
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